today it's gold tomorrow housing, page-6

have a look back at how the housing market faired, during the period following the 87 stockmarket crash, which was followed by various different crisis, as a guide

the housing market did not crash, why ?

it seems that whenever there is a global crisis, and liquid assets follow the herd into a downward spiral, people stay in the property market, where they feel safe

http://parlinfo.aph.gov.au/parlInfo/download/library/prspub/XK3L6/upload_binary/xk3l65.pdf;fileType=application%2Fpdf#search=%2220%20years%20house+prices+to+2006%22