[nomaD_]

I don't know.

Last year I believed interest rates would never rise to a level that would cause stock market crash but it happened. It was faster in the US but BoE also reluctantly is raising & market now pricing in 6-6.5% terminal.

Last year, I also believed Liz Truss would get away with 150B of energy subsidies by borrowing away. Because most politicians in the last decade have indeed got away with it. Rishi Sunak as FM spent 400B on furlough, covid loans and eat out to help out (idiotic idea imo). BUT, she didn't.

These events have changed my beliefs. Math is never wrong, just that sometimes market is so complex and economy goes through cycles that it seems illogical but eventually, it will all even out.

[FirmwareBurner]

Not sure I get what you're saying. Are you saying you think the property market will collapse soon?

[nomaD_]

I am saying anything that is not sensible will have to come back to equilibrium eventually. In this case, the income to house prices ratio has been severely skewed in the last 20 years. So either the average income needs to go up drastically or the house prices need to fall to a level that is reasonable or both! Now this happens dramatically in the next of couple of years or really slowly for the next decade or so is debatable & I don't believe in making predictions.