I know, it's all so mid-2006, the US bubble-that-didn't-happen, the bubble-blogs... and now here's Peter Schiff, CEO of Euro Pacific Capital (catchphrase: because there's a bull market somewhere), talking of a 70% crash in US property prices.

If a house has risen in value several times over in recent years, then it is ludicrous to think that it cannot fall by that amount, he says, drawing a comparison with the dot-com boom and bust in the late 1990s and early 2000s.