but the unemployment rate isnt changing, in fact those people moving out of import related jobs(retail) may move more to export related employment(mining) so its not all doom and gloom as the uber bears claim it is
whilst people have jobs they are generally bullish on property.
but wait until there are many many quarters of falling prices, a japanese style deflation could gather pace as the leap frogging starts happening in the opposite direction, a mostly sentiment led downtrend may be in the making
