Agree. I also think there won't be so many fools dumb enough to catch the falling knife too soon in the cycle (making the price crash even more precipitous).
That's because there are the clear examples like the US of A, Spain, Ireland and others to show us how much more mildly inflated bubbles can end with a big bang.
With the Great Oz Housing bubble, I rate it at a 100 Megaton !
