It will take circa 10/15 years for the housing supply deficit to...

It will take circa 10/15 years for the housing supply deficit to balance out, alonso - such is the disparity. And as soon as interest rates start to fall housing will be off to the races again due to pent-up demand. Add to that, building approvals have dropped like a stone for obvious reasons, so existing stock will continue to come under the pressure of high demand. The only thing that will crush the dwelling market is a 10% unemployment rate - always a possibility, given the dire predictions of ailing world markets set to fall.