Our company valuations are therefore unlikely to be adversely affected. Uganda’s economy resilience also stems from improved economic policies and institutional frameworks built over the last two decades. The banking and the entire financial system are stronger after years of restructuring.
Nor was the bubble limited to New Zealand; it occurred in other countries too, notably in the US. Figure 3 Industrial property prices and the CPI Annual percent change  The bubble burst in late 1987 when the US share market crashed. It suddenly became obvious that asset prices had been out of line with economic fundamentals.