$21bn property legend says “sell”

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Via the AFR comes Charter Hall legand Cedric Fuchs:

…”We have seen a very artificial thing happen with the central banks pulling interest rates down – I think the last time interest rates went that low was 500 years ago. It’s one big experiment.

…”The debt has increased dramatically and I don’t think people have stress tested for when the rates go up. Nobody really knows how the debt sits and who is behind it.”

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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.