"I think a lot comes back to supply and demand"
... Dunno 'bout that argument .. look at what happened to the Japanese property market where there was very limited supply .... demand dried up because prices were wildly over inflated ... and property prices plummeted.
It's not just a question of simple supply and demand ... if there's an asset price bubble (whether shares, property, tulips, etc) it set to pop one day.
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