The head of Odey Asset Management has slammed the government for not properly understanding the economy and predicts that a house market crash is on the cards.

In an interview with the Evening Standard last week, Crispin Odey said that UK home prices are currently “right at the top of the cycle” and could be subject to a painful correction.

He insisted that the UK was in a depression, not a recession, and residential property prices needed to fall significantly before the country’s economy could start to recover properly.

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