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RE: Home Prices Fall Week-On-Week, New Home Sales Decline in June, and the RBA Sits Tight at 1.50% - Australian Property Market Update for Week Ending 30 July 2017
I wouldn't be surprised if they do what is happening in the US. As people start defaulting on the loans and the houses get repossessed. Instead of putting the houses back on the market, they keep the house on their books to keep prices high. That's my opinion, the government wouldn't want the housing bubble to pop before the US stock market pops.
True, it will be easier to blame our woes on someone else overseas. Regardless of when there's a correction, I think you're right about banks doing anything they can to keep supply low. Thanks for sharing your insights.