Paul Bloxham: HSBC chief economist on the state of Australia's housing slump

The Australian housing market is seeing a significant downturn, and experts are warning this trend isn't likely to change. Data shows that this drop is happening nationwide, from the major capital cities to the regional areas. HSBC chief economist Paul Bloxham explained that this downturn is likely to continue until the RBA decides to cut rates - or until rate cuts are anticipated by the market.  LISTEN ABOVESee omnystudio.com/listener for privacy information.