Markets can stay irrational for a while, however the crash was a direct result of over supply. Land is plentiful and city's only have reduculys prices through poor infrastructure or artificially reduced development.
Land is plentiful. Land with the correct planning permission is not.
Credit however is not constrained except by a willingness to borrow and on the up this is near-unlimited. Fortunes are made not by doing but by speculating and then at the end the workers pick up the tab.
Credit however is not constrained except by a willingness to borrow and on the up this is near-unlimited. Fortunes are made not by doing but by speculating and then at the end the workers pick up the tab.