The Bank believes that it is unsuitable to consider asset prices in the same way as it does the prices of ordinary goods and services. For example, land is not produced by everyday economic activity.
In addition, land prices are determined in part by the perception of earnings that will be generated from the land, in other words, by the projection of economic activity and prices. Asset prices are therefore different in nature from the prices of goods and services that are produced daily through economic activity and consumed.