Australia is not alone in the introduction of prudential measures to cool the housing market, but we can learn from those countries that have gone before us. Nobody would want the 80 per cent reduction in sales volume that occurred in Hong Kong, or even the 50 plus per cent in Singapore. While the current measures being implemented in certain markets here are considered benign in comparison to those in Hong Kong or Singapore, there is certainly a lesson or two to be learnt. These are the sort of outcomes that can occur when regulators mess with the market forces.