I thought the following article would be interesting to read. I couldn't resist the title sorry General area estimate by McGrath and taking him at his estimate and making a big assumption that Keen = Chicken Little!
http://www.johnmcgrathblog.com.au/blog/2/68/
source:I also remember an instance several years ago, when one loud academic promoter of the “Chicken Little” theory had our company sell their apartment because they believed and publicised the market was 40% over heated. So we sold it and we got them a good price. They were relieved as they had avoided the ‘Armageddon’ mania perpetuated by these so called experts in the news. Since then property values in that particular area have increased by 25%.
http://www.johnmcgrathblog.com.au/blog/2/68/