Yesterday I appeared on the Bullhouse podcast with Kenna for a very interesting discussion about a wide range of financial and economic topics.
We discussed a number of different topics. Some of these were as follows:
- Whether there is a property bubble in the US and internationally right now.
- The potential bubble in the junk bond market and its implications.
- Why the risks in the market for rental properties are idiosyncratic this time around.
- How real estate is now a financial asset and why it should be thought of in context with a person’s broader portfolio.
- The specifics of the London property market and the idiosyncratic shock we saw there last year.
- The debt-for-equity swap and how low interest rates have not led to the ‘euthanasia of the rentier’ but rather has led to an evaporation of equity – both stock equity and now home equity – for the middle classes.
- Why the private equity move into home markets is probably going to end up being a bad investment.