Bottom-feeders gobble Brisvegas apartments

Tuesday, 13 November 2018

Hmmm…at the AFR:

Former Macquarie banker Andrew Hooper-Nguyen and his business partner, the co-founder of ASX-listed Excel Coal, Chris Ellis, have made a bulk purchase of brand new apartments at Rich Lister Tim Gurner’s FV tower in Brisbane where there have already been discounts of 24 percent from sales made four years ago.

…”Market weakness has been caused by over-supply, and to a large degree, regulatory measures which have artificially dampened lending to investors and foreigners,” Mr Hooper-Nguyen told the Financial Review.

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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.