I connected via Zoom with Fred Harrison last Friday evening (Melbourne time).
We had a chat about the land cycle, and I updated him about what’s happening in the news and markets across Australia.
It was set to be a great session! However, not all went to plan.
The fire evacuation alarm went off about ten mins or so into the interview – and there were 3 other interruptions to the flow of our discussion following that. Mainly due to Fred’s internet connection dropping out.
Overall, it meant the video needed a bit of editing!
You will notice a couple of places where the join in the conversation isn’t quite as smooth as it might be. Simply because of the difficulties picking up where we left off.
Regardless, there are some gems in the content from Fred – and at this point in the cycle, the warning echoes of a forthcoming downturn are particularly resonant and worth heeding.
In Fred’s own words,
We’re in the final stages known as the winner's curse phase of where people lose all proportion.
Somewhat different this time, because we’ve seen a downturn from the extraordinary peak achieved during the pandemic, and we're trying to get back on track to the final up turns of the cycle.
That, the media reports this as a drop in house prices - actually, what we're seeing is an adjustment back onto the long-term trend the 14 year trend in property prices, heading very fast towards the peak.
It's as simple as that.
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