Unlike parts of Central Europe or even the Baltic states, Russia has no natural constituency for market economics and property rights that is large and robust enough to prevail against the forces of conservatism.

ECONOMIST: Observing Russia

"The big question is where does unemployment go, that's when you get the forced selling, " said Ivan Colhoun, head of Australian economics and property research at ANZ, who finds solace in Australia's still-low 5.1% unemployment rate.

WSJ: Australian Property, Long an Outlier, Joins Decline

The Wharton economists find the third cause of property bubbles in the trendy discipline of behavioural economics.

ECONOMIST: Hot property

"If leaders in government, science, economics, public policy, intellectual property and philanthropy can come together, we will maximize the opportunities to develop and implement the creative solutions that will truly make a difference to tackling antimicrobial resistance, " Mr. Brennan said.

WSJ: WHO Calls for Action on Superbugs

However one wraps it up, it boils down to the innocent sacrificing and suffering for the greater good, property rights be damned, which is politicized theology, not economics.

FORBES: The Modern "Greater Good" Is a Sacrifice Of the Innocents

Mark Williams, senior China economist at Capital Economics, believes Hong Kong is particularly susceptible to rapidly rising property prices.

FORBES: Hong Kong Leaves Housing Problem Unresolved