Property Bubble Or Boom?
Are we in the midst of a global, Australian or local property bubble and, if so, what will happen to property prices when the bubble bursts?
Thursday, July 17th 2003, 6:24PM
by The Landlord
Economist Doug McTaggart's keynote speech at the New Zealand Property Institute conference in Auckland earlier this month tackled these questions.A former professor of economics at Bond University, McTaggart now heads the Queensland Investment Corporation, which manages $A27 billion worth of assets...
With such a large portfolio under his charge, it's hardly surprising McTaggart keeps a close eye on global economic conditions. But he pays more attention to indicators such as a country's GDP than stockmarket indices because, he says, all markets are driven by the performance of the "real" economy rather than the other way around.
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