Financial Review article What are people's though on this affecting housing price? I think unless this leads to a rate cut (and banks passing on) this along with the slowing economy might end the boom for melbourne and sydney. My outlook for Australian economy is very negative right now. I think we went from being high on mining boom to being drunk on real estate money. Now that real estate construction has slowed down I expect to see a large up tick in unemployment and decrease in consumer spending.