The LVRG identified statistical bases demonstrating the land market is a leading economic indicator—in particular, it stated that a high ratio of property sales to GDP is a warning of an economic bubble,Bryan Kavanagh, "The Coming Kondratieff Crash: Rent-seeking, income distribution & the business cycle", Geophilos (London), No.01(2), Autumn 2001, pp. 84–93. and that recessions tend to be preceded by falling land prices, which in turn are preceded by falling sales volumes. Both the Global Financial Crisis (GFC) and the early 1990s recession were, to some extent, predicted by members of the LVRG.
