tailspin---fair enough---i see your points --my point is that with vacancy rates low and yeilds rising there is a certain floor under house prices as well in the two graphs provided in the link we see our dwelling prices to income ratios in the data provided by the rba are not out of the ordinary----i fail to recall any of the major commentators providing such data----instead we see them trotting out(as you did) us data which clearly gives a false impression so tailspin---whilst i see your data and it has some validity, taken in light of many of the false comparasins which are clearly evident between our market and the us market but which are conveniently trotted out over and over again by commentators who should know better, id say our low vacancy rates provide a compelling argument for house price stability as opposed to doom and gloom.
