His predictions are a bit of a mixed bag - some eerily accurate, and some way off beam.
He makes a reasonably cogent case, though, for a major drop in Australian property values in coming years.
Of course his comments that Melbourne and Sydney housing prices will drop by 27 per cent have generated the usual bulls vs bears slanging match.
In our view, his prediction of a 27 per cent fall is not actually even that controversial by his standards. The pathways and triggers to such a drop (a spike in unemployment, a rise in interest rates a major China slowdown) are well known and written about extensively.
What's more interesting to us is how the idea of Australian property being a bubble has gone from a fringe view a year or two ago to being almost mainstream. When you see poll results like the one above accompanying the article on Dent's comments, it becomes even more plausible. The poll finds 85 per cent of respondents say "yes" or "maybe" when asked if Australia is due a "spectacular crash" in dwelling prices. More than 50 per cent say an unambiguous "yes" to this question.
No wonder first-home buyers are avoiding the Australian market like the plague. They simply just don't believe in a realistic pathway to strong gains and instead fear large losses. As a result, they won't be buying until a significant fall occurs. This leaves a greedy cohort of investors leveraging further and further up to eke out a return. We wonder if they know how to spell negative equity?