A cautionary tale for leveraged property specufestors

Advertisement

By Leith van Onselen

Last year it was Kate Moloney, the 2012 Property Investor of the year who, at the age of 24, went bust after speculating on property in the mining town of Moranbah in Queensland, and was left owing $5.8 million on property worth $2.3 million.

Now, its a similar story for two brothers that rode the wave of the Pilbara property boom to become multimillionaires, but are now also facing possible financial ruin. From The West Australian:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.