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.
