Oxford Economics Sees Acute Dangers in Australia's Housing Market

The video discusses the risks associated with the Australian housing market, highlighting rapid price rises, high household debt, and the impact of variable interest rate loans. It notes that while these factors pose risks, the Reserve Bank of Australia (RBA) is unlikely to raise interest rates soon, reducing immediate concerns. The video also explores Australia's economic resilience, emphasizing structural factors like strong population growth and the cyclical nature of the economy, which help mitigate recession risks. The interplay between mining and service exports, influenced by the Aussie dollar, further supports economic stability.

Discuss the structural factors that contribute to Australia's resilience against recessions.

In what ways does the fluctuation of the Australian dollar affect service exports?