He has only been correct since 2008 when you had a medium sized bubble. After that it got really silly so he was on really safe ground.
He may have been way off the mark prior to 2006 but after that he was massively courageous to tell it like it was, in the face of the crazy bulls and the mania
With average income levels to average home prices at 11x you can still have a 50% drop and Vancouver will still have very expensive real estate. (5.5x when world wide it is closer to 3x)
Just shows how insane you have become!
Geezer: "What if somebody listened to Taipan and doesnt buy".
Well, they will thank their lucky stars, that they arent one of the thousands of miserable souls who cant sell their properties in 2013!