That's not what I meant and I should have chosen my words better. It's the ability to convert into cash from liquid assets. Housing is not a liquid asset.
You talk of speculative and risky share activity but the reality is that despite the availability of cheap money for lending, the contracting jobs market which underpins both the rental market and the lending for buying will likely dampen RE prices. It may be enough to sustain them but it's not necessarily going to send them to the moon. A lot of risk with RE has been undertaken earlier and this is going to be a question of how long before their positions start to be unwound.
It's a very tricky time to be making a call about the market right now, everything is interconnected and there is also lot of patchiness. In Melbourne and Sydney you have a lot of highrise that are just unmarketable now. Many are foreign owned. But there's a lot of pain to come. Right now not too many forced sales.
A lot depends on our relationship with China which is deteriorating further thanks to dunderhead Morrison who has no clue about diplomacy. In this respect he has something in common with Trump, whom he openly admires.
