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RE: Home Prices are Rising Five Times Faster Than Wages - Australian Property Market Update for Week Ending 23 July 2017
You could compound that with a continuing slump in commodity prices as the world teeters on the brink of a recession. That will definitely put cap on wage growth as well.
Yep, the RBA faces a tough task in boosting wages. I do expect them to try, however, which makes things interesting as it could lead to excessive inflation. That said, I suspect the USA will destroy their currency first, and then the RBA will have to break ties with the dollar to avoid the same. As they let the Aussie appreciate (relative to the USD) deflation would follow.
Time will tell.