In this article, Phil states that the financial crisis is a predictable cyclical downturn. Phil wrote that many people hardly know what is going on in the economic cycle and believe the crisis that happened was a random and unpredictable event. Whereas, the economic cycle can be studied from the US property market as the most informative history.

Phil wrote about how important the past is to learn the economic cycle. History teaches us that the greatest speculation always takes place in the last years of the cycle. Furthermore, Phil wrote about what the investors can expect of the property prices and what will the sign that the market is turning out to be.

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