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OK you dont understand inflation.. thats normal with bulls..

you see, back when interest rates were 17% you could buy a house for 4.7 years wages.. fast forward 6 years and the house's were down to 3.8 years wages.. a drop of 20% which is really a normal housing cycle.. (up/down 20%)

But then we got hit with low interest rates at end of 90's, and incentives to invest (50% discount on CGT) which kicked off the bubble

But you see house prices are now nudging 9x wages (100% up).. Interest rates only need to hit 8% and it will be worse than 17% back then.. and prices fall, but because it will fall 50% this time instead of 20% like last time its gets called a crash because people get wiped out in it.