"Many properties around Australia are already down 30%" - ludicrous statement. where, huh? the topic is on melb/syd, obviously, as they are the most in-affordable places to live and both of which are not down anywhere near 30%!
"if Labor introduces their stated policies including doing away with negative gearing, and doing away with the cap gains tax discount things will get very ugly" - the chances of both of those going through is so slim, the RBA can't even raise rates without the lingering thought of sending people bankrupt, and you reckon these two bills could pass? doubt it
"The Banks know this is coming and that is why their lending criteria has changed" - of the people i know who are well and truly in the field of lending, i have never heard these points as being factors to tighter lending. heard of the royal commission? its compliance, banks need to comply with new regulations, there are global effects such as IR rises over the world and how that will effect our economy, thats why they tighten lending
edit: also, look at our debt/household levels, worse than pre-GFC USA and worse than pre housing crash USA
