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Marc Coleman: Stressed market means prices have fallen too far

It was my first and best economics lecturer John O'Hagan who told me that of all the other sciences, economics was closest to medicine. Economies are, like human beings, highly complex and thinking of troubled economies as sick patients is a useful way of grasping that complexity.

One of the most threatening disorders facing our domestic economy and chances of recovery right now is the condition of our property market and the closest medical analogy I can think of to describe the problem is bipolar disorder.

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