Still interesting ?, page-9

The macro scenario seems very favourable now for Helia, with less pressure on interest rates (due to the US) and a job market which remains very resilient (cf figures published today in Australia).

Of course, we also have to consider the past interaction between these elements : the decrease of interest rates usually goes together with a recession, when we also see an increase of unemployment.
We would need to see a severe recession to imagine that unemployment could deteriorate to a point, where the house market could decrease by more than 30 % (due to the increase of mortgage delinquencies). While the decrease of interest rates may also improve significantly the affordability for the people who keep their job in a recession. And there would also probably be a government intervention in that case to avoid a collapse of the market.