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I agree. Predictions by property experts and economists for the UK market next year range from +5% to -10%. My personal opinion is that no one knows. There are still risks out there.

Keen's central thesis is that debt levels have become too high and this is what triggered the global financial crisis. So the housing boom (or bubble) is a symptom of a wider credit bubble, and if the GFC is it deflating then there'll be less money for banks to lend, meaning price falls. I...