I think investors particularly are paying too much compared to rental returns but I don't see a crash.
I reckon "flat lining" or an "orderly retreat" are the least likely scenarios. As you say investors are paying too much so if and when they sense they are no longer assured of the cap gains, they will exit the market.
I have noticed on that forum, where they love polls, the LVRs which they admit too are smaller than they were a couple of years ago when 80% + was the norm. The vocal bulls are still there but fewer plebs are swallowing the story, it seems.
