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BIS Shrapnel predicting a fall in Sydney house prices from next as the construction boom leads to over-supply... http://www.news.com.au/finance/real-estate/bis-shrapnel-report-reveals-property-prices-to-fall/story-fncq3era-1227416605503 'The supply side of the equation will still have an...

I bought several Sydney properties between 2005 and 2009. Just sitting back now and enjoying the growth. :D

New home approvals at all-time high http://www.heraldsun.com.au/business/breaking-news/building-approvals-to-rise-in-march/story-fni0xqe4-1227333712333

Approvals to build new homes surged to an all-time record high in November... http://www.smh.com.au/business/the-economy/home-approvals-jump-to-record-in-boost-to-growth-20150108-12k53e.html

Building activity hits 20-year high Building activity hits 20-year high

More on the construction boom... http://www.businessinsider.com.au/australian-housing-construction-hits-a-new-high-2014-7 'Dwelling commencements in first quarter of 2014 surged 8.7% to a record high annual rate of 196,000, the Australian Bureau of Statistics reports.'

Cheers, yes I reckon I didn't do too badly for a prediction made almost five years in advance! Back in 2007, I predicted the construction boom would kick off in Sydney by the end of 2011, and the data shows it actually kicked off in Q1 2012, so at the worst I was a month or two out. :D

New dwelling activity in NSW continues to rise. Now above early-2000 boom levels, and still rising fast...

Sure. :rolleyes:

I haven't been wrong with either of those predictions. In case you hadn't realised, 2016 doesn't end for another few years (this is still only 2013... seriously, check your calendar - do it right now!) I always said the construction boom would begin around 2011. In fact it began in early 2012...

Yes, I already pointed this out in 2007-2008 when I first predicted the construction boom. I said if it creates an over-supply, then this could eventually cause or exacerbate a crash, as per Ireland, USA, Spain etc. Smug? Moi? :D http://somersoft.com/forums/showthread.php?t=44666...

Wrong on timing? There has to actually be a recession for you to only be wrong on timing. You were just plain wrong.

Cheers, sounds about right.

Post #14 of this thread, August 2008... 'I reckon Sydney is set to boom next. Sydney has gone nowhere for the past 5 years... prices are well below trend... the median house price is 15% down on the 2003/2004 peak in real terms. Construction activity is currently at record lows and population...

That's for Australia as a whole, not Sydney specifically (where I said the boom would kick off). But it does confirm the early 2012 start date - cheers. Now that the construction boom is undeniably here, I expect some pedants to start nitpicking about early-2012 not being close enough to...

The Sydney construction boom that kicked off in early 2012 is now up to 2002-2003 Sydney boom levels, in terms of dwelling approvals. I expect this boom to peak sometime around 2016...

Sydney apartment boom will be biggest ever

Building approvals smash forecasts, up nearly 19% over the year... http://www.smh.com.au/business/the-economy/building-approvals-smash-forecasts-20131031-2wjjf.html

LOL, Sydney construction activity is at a ten year high and house prices are booming (from already record high levels). Yet the guy who predicted a property crash driven by credit tightening tells me I got it wrong. Too funny! Glad I put my money where my mouth is and leveraged up on Sydney...

Yet I have been right and you bears have been totally wrong, for many years. No crash, instead house prices at new record highs, and rising very fast. Positively booming in Sydney, where my IPs are. The only thing that crashed 40% is gold. Looks like Steve Keen got the magnitude right, but the...