RBA staff: Australian housing 30% undervalued

Comments on Peter Martin "House prices 30% undervalued. Buy, don't rent, says Reserve Bank official", 9/07/2015

I got a shock when I saw the headline of this article, wha, Australian housing is 30% undervalued.

After reading the article, my shock has increased further as opposed to eased. Now I am worried about the country because I am concerned with the whether our RBA, the monetary authority in charge of the nation's monetary policy, is able and capable enough to discharge its monetary policy duty to contribute to the welfare of the nation, given such a claim of 30% undervaluation of Australian housing came from RBA staff members.

Many Australians are entitled to ask: are they competent to do their job properly? I think many may also pose a more stringent question: are they insane or sane intellectually? Do they have common sense? Where do they live, on the earth as we are? Or they are from Mars and are Martians?

It is interesting that the RBA even allow this kind of research results to be presented at the Australian Economists conference. Does the RBA have any quality assurance in place?