This isnt a sensationalist article, and I dont agree with everything in it.

As a broad statement, my opinion of economists is very low. They are usually wrong. They seem to me to be make numerical projections based upon historical data, and after-the-event justifications. This should involve an understanding of markets, human nature & psychology. They are clearly lacking in these skills, so I usually ignore those who are quoted in the media.

The reason for posting it is because the article has been written by the Peterson Institute for International Economics and they are a “private, nonprofit, nonpartisan research institution”, and I feel it creates some balance that people should consider before they dive blindly into property investing, as they are offering a contrarian opinion to the mainstream. Balance improves our decision-making.

Give it a read.

http://www.piie.com/publications/opeds/oped.cfm?ResearchID=2446

ps apparently the article which was authored by Adam Posen (who is President of the Petersen Institute) is also in the FT

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