-wages down-disposable income probably down-house prices...

-wages down
-disposable income probably down
-house prices up

results ?
consumer economy will suffer. WIthout sounding calous, hopefully it will trigger the action this country needs.

Australia's reduced productivity (except for our politicians, they've been legislating like mad, wonder if theres a connection, but I digress)
It's the country I'm concerned for.

To the OP:

Likely scenario's that contribute to the above?

Perhaps lower middle class trying to keep up, or perhaps trying to jump into middle class socio-economic groups?

Perhaps there are a lot of Chinese millionaires wanting to buy where they can breathe fresh air (relatively speaking)
or perhaps it's perceived as a good investment, or a quick way to get rich?

perhaps there is a risk on approach (some debt is good, more good debt will get me out of debt quicker?)

Either way, look for data that confirms your scenario.

Either way, I'm out of the cities, now, mad money. Hopefully it's not a case of musical chairs for those with large amounts of long term debt

Graph courtesy of Kohler