The Great Depression?

Telegraph readers will be choking over their breakfast this morning if they catch sight of this article in the business section

“Britain is now in the midst of the worst housing slide since the Great Depression, economists declared after house price inflation dropped to the lowest level since comparable records began .........House prices have never fallen by more than 10pc over a year in recorded history, except in 1931, when Britain left the gold standard.”

Charles Goodhart is quoted in the article .... does Goodhart’s Law still have any resonance? I remember being taught it when I was a student and money supply targeting was all the rage!

Unit 2 Macro: Cyclical and Structural Economic Issues Facing the UK [23 May 2012]
Unit 2 Macro: Migration and the UK Economy [20 May 2012]
Unit 2 Macro: Measuring Inflation in the UK [20 May 2012]
Unit 1 Micro: Poverty and Inequality and Market Failure [12 May 2012]
Unit 1 Micro: Revision Blogs on Markets and Intervention [10 May 2012]
Unit 1 Micro: Revision on Maximum Rents in Housing [1 Apr 2012]
Unit 1 Micro: Government launches New Buy Loan Guarantee Scheme [12 Mar 2012]
Unit 2 Macro: Policies to Drive Economic Recovery [9 Mar 2012]
Unit 2 Macro: The UK Housing Market in 2011 [26 Dec 2011]
Unit 1 Micro: Empty Housing and Economic Efficiency [15 Dec 2011]
Behavioural Economics: Herd Behaviour [28 Nov 2011]
UK Macro: Risks of a Double Dip Recession [12 Sep 2011]
Starter Video: The Slums of Manilla [11 Sep 2011]
Unit 1 Micro: FirstBuy, Affordability and Effective Demand in Property [10 Jul 2011]
Chinese inward investment in the London property market [12 Jun 2011]
A2 Macro: Consumer Spending [30 May 2011]
AS Macro: Extended House Price Deflation? [5 May 2011]
AS Micro: Importance of Elasticity of Supply [23 Apr 2011]
AS Macro Key Term: Bubble [4 Apr 2011]
Timetric: Mortgage Lending and Mortgage Rates [14 Mar 2011]
Combining monetary and fiscal policy to curb inflation in China [16 Feb 2011]
David Smith on Shifting Sands in the Global Economy [8 Feb 2011]
Economics Q&A: Will the rise in VAT harm the UK’s economic performance? [17 Jan 2011]
Extend and Enrich with EconoMax [29 Oct 2010]
Krugman attacks the coalition’s fiscal policies [22 Oct 2010]
Beware the return of the Gazunderer [16 Oct 2010]
Housing market and negative equity [31 Aug 2010]
Reasons to fear a jobless recovery [11 Aug 2010]
Consumer sentiment weakens as double dip looms [2 Aug 2010]
China’s housing market - fantastic interactive resource [7 Jun 2010]
Unit 2 Macro: How can supply-side policies help in a recession? [6 Jun 2010]
Housing and the British Economy [5 Jun 2010]
AS Macro Revision: Consumer Borrowing [30 May 2010]
Euro Land and Optimal Currency Areas - A Valentine’s Day Massacre [29 May 2010]
Warnings of hysteresis for the EU economy [29 May 2010]
Two examples of government failure [20 May 2010]
UK inflation hits 17-month high [18 May 2010]
AS / A2 Revision - Where Next for the UK Economy? [2 May 2010]
AS Economics Revision - Dissecting the Recession [1 May 2010]
RES Essay Competition: Preventing Housing Bubbles [12 Apr 2010]
Paris punishes the purse strings [12 Mar 2010]
50-year decline in housing affordability [20 Jan 2010]
Gloomy summary [13 Oct 2009]
Explaining the Paradox of Thrift [6 Oct 2009]
Pain in Spain - on the brink of depression [26 Sep 2009]
The Wealth Effect [12 Sep 2009]
What happens when the hose pipe is turned off? [23 Aug 2009]
Tentative signs of a pulse in the housing market [30 Jul 2009]
Economics Snapshot - EU Migrants in the UK Labour Market [26 Jul 2009]
Housing the global economic crisis [23 Jul 2009]
Revision - External Shocks [24 May 2009]
Revision: Deflation in Residential and Commercial Property [14 May 2009]
Policy Failure - Rising Inequality [10 May 2009]
After the storm [3 May 2009]
Optimism and Pessimism [16 Apr 2009]
New Deal Videos [12 Apr 2009]
Q&A: What is the difference between a depression and a recession? [2 Apr 2009]
Revision presentation - UK Housing Market 2009 [25 Mar 2009]
Bubble Behaviour [22 Mar 2009]
Economic darkness in the land of the rising sun [18 Feb 2009]
Defining our Times [17 Feb 2009]
Worst case scenario for the UK [29 Jan 2009]
Bail-out Bitter [13 Jan 2009]
Homeowners step away from equity loans [1 Jan 2009]
The Fed Reaches the Floor [17 Dec 2008]
Barclays Boss says housing downturn is only half done [16 Dec 2008]
How low can they go? [4 Dec 2008]
Buyers desert the property market - with good reason [30 Oct 2008]
Mais Lecture - Leaning on the MPC [30 Oct 2008]
Negative equity - why is it a problem? [20 Oct 2008]
The MPC - snoozing whilst the UK burns [7 Oct 2008]
A sickness at the heart of Britain [5 Oct 2008]
Housing - a buyers market [27 Sep 2008]
Housing market activity - some interesting data [26 Sep 2008]
Rock fall was symptom of wider malaise [13 Sep 2008]
Shaking foundations [26 Aug 2008]
How best to avoid the ‘D-words’ [26 Aug 2008]
Out of pocket? Students face much higher inflation. [21 Aug 2008]
Sharp fall in London property “asking prices” [18 Aug 2008]
Winners and losers from the housing crash [11 Aug 2008]
Telling it like it is [7 Aug 2008]
Moscow coffee had better be good! [24 Jul 2008]
Bricomortis [21 Jul 2008]
Poverty Trap worsens [18 Jul 2008]
15 Charts on the UK Economy to Kickstart Lessons in September 08 [14 Jul 2008]
Housing slump and negative multiplier effects [11 Jul 2008]
UK house prices down 2% in June [10 Jul 2008]
The Cracks are Widening [6 Jul 2008]
Migration and the UK housing market [3 Jun 2008]
Back to the 1990s [29 May 2008]
Lower house prices and the route to happiness [26 May 2008]
House prices down, rents up [20 May 2008]
Growing demand for social housing [19 May 2008]
Mervyn faces the Music [14 May 2008]
Elegy for Estate Agents [11 May 2008]
Property - then and now [9 May 2008]
Developments in the housing market [27 Apr 2008]
The social curse of the property boom [19 Apr 2008]
Sub prime risks for the UK [19 Apr 2008]
Revision: Recessions [15 Apr 2008]

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