Expectation of Further Falls in Housing Values

Earlier this week the Reserve Bank (RBA) released the minutes of the Monetary Policy Meeting for February 2019.  One of the things that really stood out for me was the commentary relating to the housing market, specifically relating to the impact of falling prices.  The following quote is taken straight from the minutes.  

‘From a longer-run perspective, members assessed that, following such large increases in housing prices, the effect of the recent price falls on overall economic…