In this article, Ross Clark reviews Fred Harrison’s Boom Bust: House Prices, Banking, and The Great Depression 2010. It is said that many economists stated the thesis of market and property, but failed to prove it. On the other hand, Fred Harrison, an economist who wrote his thesis in a book, was able to attract the attention of his readers. Although his book had not been widely reviewed when published in 2005, Harrison was not the only economist who had warned about the impending crash in house prices and did not emerge as the most qualified.

Harrison theorizes that the property market is governed by an 18-year cycle in land prices. Harrison claims that the average duration of the working life of Britons in the 18th century makes this always on an 18-year cycle.

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