Pickering: Don't buy now

Good advice from Callam Pickering, one of the few other voices of sanity in the Australian press using a very familiar argument:

When the [property’] market turns we won’t have the luxury of a mining boom or the benefits of fiscal or monetary policy to keep the market afloat. The next downturn will almost certainly be larger in both size and scope than the three that preceded it. Investors should position themselves in a way to mitigate these risks and new investors looking to jump in before it is too late may want to reconsider.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

Pickering: Don’t buy now