The next recession will be in 2019, and the next major downturn will be in 2026, according to the 18-year cycle theory.

Akhil Patel was interviewed by EG Property Podcasts when he was the head of research at residential development financier at Urban Exposure, says that since 1800 recognisable recessions have occurred every 18 years in the UK and the US, and this time around will be no different, with the property at the forefront.

“It’s based on a long-term repeating cycle that has been in operation in the UK and the US since about 1800, where economies experience 14 years of expansion and four years of economic recession,” he said.

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