20 November 2019
As published in The Sydney Morning Herald, 9 November 2019
When asked for our views on the macroeconomic environment, there are two things we can say for certain – firstly, at some point there will be a recession in the US and elsewhere, and secondly, we have very little idea when it will come.
However, when asked what a recession will mean for property markets, we can be a bit more specific.
Our research shows not all real estate sectors perform equally during recessions. Despite the current narrative in Australian real estate investment trusts (AREITs) that industrial and office are "safe havens", history suggests otherwise ... read more