Not necessarily, OT. If you look at Canada's recent experience; Canada's RE market being the closest comparable to Oz, their prices started to rise almost immediately they dropped their IR's. There's a lot of pent-up demand from buyers that have been waiting for the Reserve to lower IR's, and the housing shortage has not just gone away. I'm not saying that this will reignite another boom, but it should limit any falls of consequence and at least stabilize the market, if not add a pip or two. We shall see.
