Sector,
IMO, the verdict is still out on whether the housing boom after Keen was a boom or a long term disaster for the Australian economy.
It is well documented that the Australian middle class is shrinking i.e. the backbone of our nation is getting smaller.
Meanwhile, in the rest of the world, the middle class is getting larger. https://www.brookings.edu/blog/future-development/2018/09/27/a-global-tipping-point-half-the-world-is-now-middle-class-or-wealthier/
