Will the housing market crash? We have been asking the question for two decades now are prices climbed to ever higher multiples of earnings. But apart from a few months in 2008 and early 2009, when prices did slide appreciably, it never seems to happen. Stock market corrections come and go but nothing will seem to dislodge housing from its inflated heights.
Having just gone through the most unlikely property boom in history, however – in which prices have surged throughout a pandemic – it is worth asking again.