Thursday, July 16, 2009
A property mogul’s tale
"THE credit crunch has definitely been a game of two halves for Edinburgh-based property tycoon David Alexander. On one hand, business at his eponymous property rental firm is booming â€“ but on a personal level, the downturn has spelled something of a disaster. For Alexander, who started out in the industry 27 years ago at the age of 21, admits he lost his entire personal savings in the collapse of property investment fund Heritor's Residential Property." By Scotsman's standards, I found this article quite balanced instead of the usual ramping. So what does the future hold for a business man who says: "In 26 of the 27 years I've been in property, it has been pretty straightforward to predict that the market will rise. That is no longer the case."