Thus, sharp increases in house prices over a prolonged period are often predictive of crises in the future. Moreover, the run-up in property prices was also associated with large expansion in credit leading to a substantial increase in household debt.
*  *  *  Your Eminences, Reverend Bishops, esteemed guests and dear colleagues, It is an honour for me to share with you all the joy of this historical moment of consecration of the new office building of the National Bank of Serbia.