Got a link to back that up? Not being obstreperous, since monetarism makes some sense to me, but you’ve made a pretty big claim.
Ludwig von Mises (one of the greatest and foremost Austrian economists) predicted the Great Depression because of the credit expansion of the 20’s, which according to him and the Austrian theory of the business cycle, always leads to an inevitable credit contraction. The fact that credit expands by non market forces (i.e. a central bank) means that there will be a credit contraction which will bring about a recession which in essence corrects the malinvestments made during the boom phase. The theory is more complicated than that, so I would look it up (or I could give you a more full definition).
Basically there was nothing special initially about the Depression because it was just an inevitable recession to Mises (it was government’s response that made it a depression and later “Great”). I don’t remember which sources I’ve read this from, but I’ve seen it from several sources before (through books and the internet), I’ve just never made a point of citing it. I’ll keep looking and mail you when I find some.
As for the housing boom (and now bust), Peter Schiff was predicting it with pretty good accuracy a few years back, most notably in his August 2006 exchange with Art Laffer (http://www.youtube.com/watch?v=4zZMLrgccCY). There were also some other modern Austrian economists on the website, mises.org who had been predicting this, but I’d have to dig through a lot of articles to find them. They have daily articles on that site (http://mises.org/articles.aspx) but I’m pretty sure you’d be able to find some stuff if you went through for a few minutes. I think they have a search feature on the site too.