"Obviously the buyers have ignored the IMF, Demograhpia, Keen et al, all fundamentals of macroeconomic theory, Kris Sarce and the HC bears. "
Exactly!! And this is why propert wont crash-the general public couldnt give a stuff about what some acedemic tells them. All the general punter cares about is if they want it and can they afford it.
If being rational was a key factor in setting prices I wonder how much diamonds would be worth...
