Bears have clearly not done their research into how many home loans compared to residences in Australia.
Any first home buyer usually can only afford a cheaper house and IF there was a downturn these lower priced homes usually don't depreciate that much compared to higher valued homes and high end market homes.
Also with dual income families these days and savings rates increasing, most families/couples can survive around 6 months on savings or 1 income until the other person finds a new job, not to mention people don't sell homes like spec stocks .
Since 2008 people have been walking around saying this and that about a crash and overpricing and over those bad times in general the property prices have risen.
There's no way in hell I would sell my owner occupied home and rent, I could always borrow cash from family, use savings, sell a car or stocks to fund my lifestyle until I found a new job.
The tossers have been endless from Keen to Schiff about property and gold
