The chart would not up-load so I put a link above. As you can see 2010 was a go-go year for our markets. They had a little dip into August and then Ben Bernanke made his famous Jackson Hole QE 2 speech which ignited all commodities and risk assets.
The result was stunning, a 25% rise in the TSE which peaked in March- just a couple of months before our property market peaked.
Now fast forward to today. We had a bigger dip into August, all 25% of the gain in fact. And then we had another little pop and it looked like we were going to repeat 2010. However it is losing steam. I am going to watch this index more carefully. I very much doubt we can see more declines in the TSE and still have a robust housing market, the two seem very closely related and the thread seems to be 'speculation'.
