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Luxury has always been a cyclical industry, but in the past decade it has soared and plunged like a well-dressed bungee-jumper.

Rising lease rates prefigured the last big move in gold back in the spring of 2007 just as the two Bear Stearns hedge funds were blowing up.

Soaring unemployment numbers have undermined the confidence that we might be nearing the bottom of the recession.

Despite the array of policies, national real estate prices have continued to rise, jumping 10. 7 per cent in February from a year earlier.

All that new money led to a real-estate gold rush that has seen property prices rocket like a Sputnik.

But the land eventually dried out and there was no more cooling. Hence the soaring temperatures.

Economists said the surge in inflation also presented Asian central bankers with a conundrum that went against their instincts.

By the time the U. S. loan crisis, the British credit market funds is weak, the major banks in refinancing costs soar.

In the space of months, the price of such rights on an acre has shot up to $30, 000 from a few hundred dollars and is still climbing.