If in doubt a crash is imminent check this out!!, page-17

What will cause a recession is the peoples debt. In Australia it is up to nearly 200% of income and the highest in history.
With wage growth stagnant and actually going backwards now because of the penalty rates being cut, banks increasing interest rates without the RBA, the RBA now admitting they cant raise rates because of the private debt levels it is shore that any small shock to wages, growth or interest rates will curb peoples discretionary spending. When that happens the economy starts going backwards.
The people are the economy and if they stop spending then the economy suffers badly.
An article in the Australian this morning from UBS says mortgages went into arrears last month by about 1.5% just from April to May.
There are those people around that have not been alive long enough to have lived through a real recession or a property downturn. These people often believe the BS from the MSM and property sprukers because they think that every thing was discovered since they have been alive. Often they dont get their heads out of their phones or their PS long enough to actually go out in the real world and have a look preferring rather to have digital friends and live in the digital MSM world.