Monday, Mar 26, 2007
Gerald Ronson, one of the property industry’s most canny survivors, has warned that the industry is heading for a correction
FT: Ronson warns property investors
Mr Ronson, chief executive of private company Heron International, told guests at his annual lunch at London’s Savoy hotel that “there can only be one ending” to the current hot property market.
“We will look back and talk about how obvious the signs were,” said the tycoon, whose business went bust in the early 1990s recession – but who has since rebuilt himself into a successful real estate player
Posted by confused76 @ 11:33 PM (223 views) Add Comment
9 Comments
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1. Davros said...
I think everyone knows property is hugely overvalued. Yet the optimists still try and deny it.
He's right, the signs are there, but there are plenty of people who choose to ignore them. More fool them.
2. paul said...
I've just mentioned this to a property bull sitting next to me and he replied "Lots of so called experst have come out and said things like that over the years"
He's right of course. But I think this time he may just be wrong.
3. george monsoon said...
Well, I have to agree with Mr Ronson, he was burned badly by the last crash and will be more in tune with the "signs" than anyone else. The bulls will be bulls... led blindly into the slaughter house oblivious of their impending doom.
4. Houseoflords said...
Interesting to see how the Times (doesn't) report it:
Gerald Ronson, the property mogul, told the cream of Britain’s property industry at his annual Heron International lunch that the bull market in commercial property returns is close to ending but prospects for rental growth remain in “Central London offices and quality residential”.
5. Wsn03 said...
I cant get this article, subscribers only? Anyway you can print it somewhere?
6. rich said...
>> He's right of course. But I think this time he may just be wrong.
By saying "so called" he's attempting to cast doubt on the man's credentials as an expert, from the sounds of it without any basis. Essentially his argument boils down to "he's not an expert because he's disagreeing with me", which is a fallacy not a logical position.
http://en.wikipedia.org/wiki/Fallacy
7. rich said...
Apologies, sent the wrong link.
http://en.wikipedia.org/wiki/Association_fallacy
8. doomwatch said...
The game is up. One mans loss is another's gain eh Gerald.
9. The Capitalist said...
Ronson? Ratner? Or the Gorilla? (for those young uns a very funny tv sketch by Rowan Atkinson)