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So the whole ironic point about this whole thread is BOTH you and hobo could end up being right. You because you get your construction boom and hobo of the subsequent housing crash

I really don't understand why you are so smug about a home construction boom. Increased construction increases future supply. If there is a future problem that really effects demand, then watch that increased supply negatively impact on prices.

Melbourne wont boom to the same extent, that's a given. Its simply a matter of relative cycles.

sorry mate but this is simply not true at all. Instead its because our consumer mugs and institutional debt buyers wont buy securitised debt at any price under any circumstances. More difficult securitisation process compared to pre GFC, more stringent lending practices.

regardless what shadow stated in times past, low building approvals is good for residential property long term as supply is being constrained. Reduced supply + population growth over the long term = good for existing owners of property.

bring on the contruction boom i say. I will benefit both ways, firstly from equity prices, secondly from picking up distressed property at some point in the future. Suits me perfectly.