I've watched the comments about a property market crash with interest, writes Robin Bowman.

While there are some legitimate concerns about a global economic slowdown, possibly starting from the effects of the US housing market spilling into the US market at large, slowing spending and imports from Asia and causing economic slowdown there, and so on and so on...there are some fundamental points to bear in mind here.

Sentiment does not cause property price crashes. Economics do. Sentiment causes blips, not crashes.

Sentiment certainly does cause temporary but big falls in equity prices - as we saw a little while ago in the huge fall in Shanghai prices that rippled round the world. Investors are jittery. But the fact was that there was no fundamental reason for that fall and prices did what they always do in such circumstances - they recovered very fast.

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