Steve Keen's graphs and story are very logical and makes sense. However, he could have done the same graphs in 2009 and prices across Australia have only gone up since then! He forgets that people can stay irrational longer than the market can.
So I think while a crash of sorts may be coming - the timing of it may yet be another few years or several years away. THere is plenty of room to lower interest rates and for the Government to borrow up big in the next seven years to bail out the economy. Employment is still very strong - despiite job losses in Victoria.
So if you are looking to get in low you may be waiting quite a few years yet. So if you are a bear perhaps its time to go into hibernation - you might awake to refreshed and justified.
