The dollars strength may force the RBA to keep cutting rates. If...

The dollars strength may force the RBA to keep cutting rates. If they do that prices are going nowhere but up in the short to medium term (1 to 3 yrs) unless you live in Melbourne. Will ge a good time for geared investors to get out, as if this does happen the likelihood of a multi decade negative real return on housing looms.

Joye has also commented that market characteristics could quickly become "bubble like" from here and if this were to happen we would see a the largest housing crash in 75 years.

Those arguing that property is in a bubble look more and more likely to be proven right. The RBA seems to have lost the plot. They can't keep lowering rates to blunt the without imposing conditions on the mortgage market, it's simply going to flow through to housing at very high gearing levels.

This is getting very dangerous for the wider economy now.