my predictions for 2010, page-9

you cant sustain a property bubble, simply because the price consumes the majority of the purchasers wage.

for this reason the economy suffers with the new waves of home buyers piping all their income into the mortgage instead of partly back into the economy to keep it ticking over.

for that reason property bubbles kill the economy, bring on unemployment and bad debt, and bursts itself. no different to cancer invading its host.