Anyone applying for rental accomodation in metro melbourne would understand how competitive it is. Massive undersupply of rental accomodation within proximity to infrustructure.
Given the demand for housing, and expected 5 million + population growth by 2030, i can't see where this 50% crash is going to come from.
Steven Keen talks about quantative evidence, yet there is no qualitive evidence what so ever to support a crash.
Pointing to Japan, US and even Spain is pointless, very different dynamics, both at micro and macro levels.
