Australia's high house prices not a 'crisis', says RBA, page-34

I really do not know why you guys worry so much. Most of you have got houses, so what if it goes up in value, get your equity loans and buy holidays, cars etc. So what if you think new comers are paying too much, stand back and pick up the pieces like we did when the Japanese paid too much. So what about the kids they are smarter than us, let them prove it and remember they will get your house when you depart. Who cares if others are borrowing too much that is their problem.
You would all be worrying a lot more if real estate prices were falling 50% bet you would be screaming at the Government to do something. Grab that cash with both hands and make a stash.