What is most striking about the latest round, at least when you listen to those who ought to know, is how nothing much except the price has changed.
We were told a stern lesson in the months and years after the financial crisis, borne out of an over-inflated, over-leveraged U.S. housing market securitised up to the scalp by Wall Street and leaping ever higher up a steeper incline on a blind instinct never to look back.
But as most school teachers know, sometimes a lesson has to be repeated in order to be properly learned. And some students will still fail.
Scanning through the results of the latest Reuters surveys of property market analysts and economists would leave any reader with a memory stretching back before 2008 with a sense of déjà vu.