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The story is set in Ireland some time after the financial crash of 2008 and the ongoing deflation of the country's property bubble.
InSAR analysis (Narita and Murakami 2016) shows that ongoing deflation at a rate of 2 3 × 105 m3 per year is also shallow-rooted (0.5 km depth) and localized, consistent with continued depressurization of the hydrothermal system.
So at 4.5%, I said, "I think there's another play here," not only because of what I thought they were going to do in Washington, but the safe haven effect and the ongoing deflation.
Yet to many Americans, the idea of ongoing deflation in everyday prices may sound laughable given the cost of food, healthcare, tuition and other goods and services in recent years while wages have stagnated.
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"This year should end on a bit of a high note, with more visits that week, and sales up versus last year despite the ongoing price deflation," he said.
Steiner said ongoing food price deflation and a fierce price war saw the supermarket sector "experience significant challenges during the period".
The staggering and ongoing house price deflation is the first since the 1900s.
"This year is going to be great for the consumer," says Clive Black, an analyst at Shore Capital, as he predicts ongoing heavy price competition will mean deflation will continue in 2015.
The ongoing demand destruction has also deflated commodity prices from their recent peaks, giving rise to a collective view among economic policymakers that deflation represents the single greatest risk to the global economy.
"The timing of the sales has been a major contributor to deflation this summer but over the long term ongoing levels of competition in the high street are not going to get any easier," says Roberts. "People are going to have to sharpen their pricing a bit more".
So the logical follow up then: Where are we now in the ongoing saga of the housing bubble and then the subsequent deflation?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com