Professor Philip Lane:

At a general level, I will not say that there is a firm evidence base to claim that it is inevitably destabilising or adverse from a macroeconomic perspective. There could be distributional issues. For example, does it affect some types of households more than others? The Senator mentioned renters. A list of issues arise in terms of the protections offered to tenants and so on by housing policy. From the point of view of keeping an eye on the stability of the financial system, however, there is not a strong platform to infer too much from this.