Your ‘Great Property Debate’ Digest
What can we say… the Great Property Debate went pretty much as we expected.
The housing bulls would drag out their usual excuses, and we’d counter them point for point.
Of course, the format wasn’t really a debate. Rather it was seven individuals giving a presentation one after the other.
The event kicked off with Tony Hayek. As we understand it, Mr. Hayek owns a property investment business. The following three quotes will give you a good idea of his 15-minute presentation:
“The property market has grown forever.”
“The property doomsayers have been wrong forever.”
“The GFC was the best financial period of my life: interest rates went down… rents went up… and capital values went up.”
[Ed note: The last quote is paraphrased; we were a bit slow jotting down his full comment.] Continue Reading