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Depressions, I was given to understand, have an 80 year cycle. Just like RE has 7-12 year cycles. Given that there was a depression in 1930, it should have been expected to arrive around 2010. It got here in 2008 in the form of the GFC, close enough I suppose. But that one, you could argue...

Yeah Erica, the last 2 recessions that I can recall, property prices went UP.

I'm pretty sure that was the 1 Oct 1990 30 Jun 1991 recession, wasn't it?

List of Australian Recessions: Start Finish 1 Apr 1961 30 Sep 1961 1 Oct 1971 31 Mar 1972 1 Jan 1974 30 Jun 1974 1 Jul 1975 31 Dec 1975 1 Jul 1977 31 Dec 1977 1 Oct 1981 30 Jun 1983 1 Oct 1990 30 Jun 1991 Interesting to note how little time a recession runs for - approx 6 months...