R.e interest rates.
The biggest bond bubble in the history of bubbles is in the process of topping out now. Yields on the 2, 5, 10 & 30 year are approaching levels not seen since the depths of the financial crisis in 2008.
Once the bond market does pop, interest rates will sky rocket. Aussie banks will have no other choice to pay significantly more to borrow on the wholesale market.
This will force up the price of everything, unfortunately not the housing market as people will be significantly restricted on the level of debt they can service.
In my opinion the real catalyst for a housing market decline will be significantly higher borrowing rates over the next 2 years.
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