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In the last Property Chronicle, we considered a simple conceptual framework for assessing market mispricing. This involved comparing the market cap rate (K) with a cap rate derived from our analysis of its components. The latter comprise a nominal risk free rate (RFRN), a risk premium (RP), and...
Recapitalisation - why now? A recapitalisation cycle is underway across the Australian commercial property sector. The drivers, in common with markets in other developed...
In 1604, the English judge Sir Edward Coke declared that “the house of everyone is to him as his Castle and Fortress.” The intervening years turned the saying to “and...
Back in July, I was invited to give a keynote speech at an international conference we hosted in Cambridge. In it, I took the opportunity to look back at Cambridge economics a...
One of the hardest tasks in education now is to encourage students to develop critical thinking skills when information sources have fragmented, and debate and argument seem to...
Who owns words? If words are mine, can they be yours, too? In a sense, language has to be “ours,” a shared resource that all can use. What about ideas? Ideas are, after all,...
This article is part of our Premium Content Stream, a new Property Chronicle initiative to bring you additional high quality analysis of multiple asset classes. It is currently...
With the 2024 election looming on the horizon, the Democratic Party faces a contradiction. By some important measures, the US economy is booming—third-quarter GDP growth figures...
The younger generations seem increasingly crazed. A worrying proportion of the young sympathises with those who launch terror attacks against Israel, supports the...
Like a pillion passenger leaning in the opposite direction to the rider, UK banks’ behaviour has become perverse and dangerous. Banks are engaged in an elaborate risk management...