Housing boom has peaked, says Morgan Stanley&Ranger, page-27

It has been about 25 years since the last recession in Aust
and we've had a amazing boom in house prices
and investors need the price growth to justify negative gearing
but ever increasing money needs to be pumped into property to keep the cycle going
in 1990 interest rates were about 17% now they are about 4%
that explains alot
but can the growth continue if wages stall and interest rates stop going down ??
what happens when fear takes over from greed in investors minds