"[The OECD] warned of the danger of a protracted period of large house price falls with implications for a slowdown in consumer spending."
Are there parallels here with the dot com boom? The amount of
If that's somewhat the case, is there something underlying this short, sharp "series" of "ready investment"? In other words, are we becoming more willing to invest in something, without really thinking through how it's *really* going to pan out? Related questions:
1. Are there other instances of such investment?
2. Where does this leave us in terms of "completeness of information" regarding any particular market? There's some level of assumption that markets operate on an emergent "intelligence", but can other factors change the level of this intelligence, or at least partially occlude it?
Maybe we just need to wait and see how the housing market here turns out. My predictions of a bust over the last few years are looking like jelly...
* Here's a chart of UCAS applicants, broken down by ethnicity, to Maths and Computing...
(Source: UCAS data run through a Perl script.)