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One-Line Bio

Researcher, writer and commentator on european real estate issues and markets


Old Dog - New trick

I have been sniffing around the highways and byways of european real estate for around 25 years now, researching, writing and, hopefully, leaving my mark on various lampposts. In my working life I have survived three previous downturns - this is my fourth. This leads me to make some observations about the nature of recessions:

Every recession is the worst in living memory - but memory is unreliable;
Every situation is only going to get worse - until it begins to get better; and
Every recession generates opportunities for investors.
The problem is that, just as there is irrational exhuberance in good times, there is equally irrational gloom and despondency in bad times. There are a number of potential reactions to this. We might sit around Micawber-like waiting for something to turn up or we can try and find our way through the fog of under-researched scaremongering, political posturing and the raising of false gods.

One thing is clear. If ever there were a time for real estate research to prove itself more than just a marketing prop - it is now.

This blog is my meagre contribution. I make no claims to be especially prescient. All I can do is use my experience to interpret events as independently and objectively as possible to guide my clients to the silver lining.

I would appreciate any comments and observations - email me at