There should be alot more disposable income available for the average household to start and stimulate business, purchase goods etc. The fact that so much money is being tied up in homes and more importantly debt is a blight on this countries economy long term.
It seems that lending procedures have been loosened more and more over the years which has contributed to higher house prices and insane levels of average household debt (Australia is 5th highest household debt vs gdp in the world).
I am hoping that the media continues to put pressure on the government to contain runaway house prices. The fact that they let it get this bad shows grave negligence on their part. Hopefully the Australian people consider this when they cast their vote early next year but i am not holding my breath on it.
