not looking good

"Household disposable income - which nets out interest and tax payments – was down 0.2% for the quarter in real terms (after inflation) with annual growth slowing to 1.1%, implying declining income in per capita terms

Read more: http://www.smh.com.au/business/markets-live/markets-live-asx-back-to-2008-highs-20140305-34620.html#ixzz2v5CcYk5U

So declining income and rising unemployment?

Doesn't look like a recipe for propping uo a housing bubble.