The first rule of economics is that if you predict that a recession is coming, you will never be wrong. There is always a “next recession”.
These things are cyclical: Everything is going well, and then somebody starts asking awkward questions, like “is a two-bedroom cottage in Ranelagh really worth €600,000?” or “can the government really keep splurging money like this?” and then doubts begin to creep in. People stop paying the six hundred grand for the Ranelagh cottage. Its value begins to fall. Banks start worrying about negative equity and decide to lend less…. causing property prices to fall further. Before you know it the recession is here.
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