The rest of the world see's Australia's housing market. They know how it's been time and time propped up by outrageous govt. policy, and terrible accounting laws. They know that when the merry go round stop's the Aus market/dollar (especially dollar) will take a huge fall, and they'll stay away until it does.
Meanwhile we have a ludicrously high Dollar with Commodities off the chart, and we all know our relative value of commodities has barely changed the last several months because of our dollar, so any weakness in commodities is just seeing our miners killed.
The world is being played with by the sentiment oozing off uncle Ben, and Aus happens to be on the losing end.
