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there are so many factors to consider, such as, were developers cut down during the 90s recession with the result of eliminating supply? was our economy as flexible? unemployment rates? population growth? China entering such a dramatic era of expansion? since the 90s we have nearly 20 years of...

my logic is simple... housing has been damaged by the weak economy. Stevens says that if the economy strengthens he will raise interest rates, meaning house prices will move in tandem with the improving economy.

Reserve Bank governor Glenn Stevens should be warned in return that house prices are below normal and will move "a good deal north" as the economy regains strength.