Ms Marie Hunt:

The way we would have used this particular chart was to demonstrate that its a cycle and what goes up will ultimately come back down again. What we always would have said, in presenting this, is what one never knows is how quickly one will move around that cycle or how long one will be at any particular stage because in real estate things happen. It could be a geopolitical issue or a financial issue that will trigger the crash or downturn in each case but it usually follows this pattern. I think what would normally happen is that the market would begin to slow down, business in general would start to decline which one would see in the stock market and then, in reaction to that, the banks would make a move.