Warnie When thinking about economics you have to think linkages. Eg. Property starts falling, many Australians including baby boomers , a very big group start to lose equity wealth. Now , they no longer think they will use there 800k in equity in retirement so they start saving more, stop spending so much, maybe the trip to Noosa stops , so the local Noosa cafe turns over less. Do the boss cuts back a couple of staff members. These staff members don't go to Brisbane to buy the latest iPad or they don't buy the new board shorts. Then the local surf shop sales drop, he /she starts to get worried do they spend less, etc etc Unfortunately alot of Australias economy outside resources and constructions is comsumption( retail , tourism etc) so when property falls many people will feel a hell of alot poorer. Remember what a big employer small business is in Australia. Add to this the backdrop of incessing cost of living
