I think too many people are paying too much for their housing & loan repayments, and it is sucking the life out of the Australian economy.
Add the high dollar, overseas/online shopping and you have the perfect storm.
Lowering interest rates will help some battlers on the fringes but I still believe the % of income now going to pay back housing debt to the banks is crushing the rest of the economy.
Most people work in services sector, when there is no money people don't spend on services, they lose their job, less money circulates, the spiral goes round and round, and down and down.
Just as rising asset prices makes people feel wealthy and spend more, creating +ve momentum throughout the economy, so it works in reverse.
