have a look back at how the housing market faired, during the period following the 87 stockmarket crash, which was followed by various different crisis, as a guide
the housing market did not crash, why ?
it seems that whenever there is a global crisis, and liquid assets follow the herd into a downward spiral, people stay in the property market, where they feel safe
http://parlinfo.aph.gov.au/parlInfo/download/library/prspub/XK3L6/upload_binary/xk3l65.pdf;fileType=application%2Fpdf#search=%2220%20years%20house+prices+to+2006%22
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today it's gold tomorrow housing, page-6
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