The world according to GRP — Sunday, June 10, 2007:
"Riches of Oz" launch: June 15
How much richer would Australia be, in terms of annual GDP, if it had avoided all the speculative "bubbles" in the property market over the last four decades? $1 trillion per year is within reason, says Bryan Kavanagh in his report "Unlocking the Riches of Oz: A case study of the social and economic costs of real estate bubbles (1972–2006)", which is to be launched in Melbourne on June 15, 2007. The report also offers a more conservative calculation giving a mere $700 billion a year; but even that is about $35,000 a year for every man, woman and child in the country.
As a property valuer with 32 years' experience, Kavanagh knows a bubble when he sees one. In this report he presents hard data showing that bursting property bubbles lead to recessions. He also explains how property bubbles can be prevented by shifting the tax burden off productive activities and onto land values — land being the component of "property" that is subject to speculative price inflation. Read the review.
The launch will be at Level One, 27 Hardware Lane, Melbourne, on Friday, 15th June 2007, at 7.15pm ("gold coin" entry). Read the announcement / RSVP. Copies of the report may be purchased at the launch or ordered separately.
Copyright © Gavin R. Putland except as otherwise attributed. Posted at The world according to GRP under the title "Riches of Oz" launch: June 15. You may republish this item verbatim on your website or blog provided that you include this notice (with hyperlinks).
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