We’re a little late this year, but the intrepid Gavin Putland today delivered a Christmas present–the Kavanagh-Putland Index–the full untrammeled details of which are to be found here.

For further interest, I’ve made additions in pink below. These shows recessions, and pointers to what may be Australia’s upcoming biggie. This year’s kick-up in the total volume of all real estate sales prices to GDP remains within the channel I see as directing us towards the inevitable popping of our bubble.

Have a merry Christmas, folks!  I surely intend to do so.   🙂