If he gets the 'top-job' then none of us should be surprised to see multiple flip-flops over pledges ...

The Brexit lobby would do well to remember that he changed his position from remain to leave 4 months before the vote in 2016 ... he's well know for his reversals and his contradictions - I'd put a modest wager on him going to Europe ... and coming back with a 'no' - ie no change to the transition agreement (May's deal) but with some assurances on post transition trade and then arguing that 'having looked the Europeans straight in the eyes' he is now 'totally and unequivocally convinced' that the backstop won't come into force and asking parliament to pass the May deal ... with the alternative being a referendum on 'leave without a deal' or 'remain' or a General Election - both of which are totally antithetical to the hard exiteers.... time will tell ... he might even get out voted!




I’m not sure about loosing momentum ... I’m pretty sure they never had much ...


Credit is hugely important as an accelerator of economic momentum and as a catalyst for real estate cyclical excess - keeping a close eye on the impulse it provides is therefore critical to cycles. It’s absence ... or at least its inability to accelerate faster than nominal GDP is a major factor playing into why in Europe ... after what seems like a relatively long period of recovery ... we don’t have any real signs of a systemic speculative behaviour in our sector ... maybe the first signs of speculative development activity are visible in some cities or property types that are being chased by core investors or perhaps elsewhere in the financial system where capital is swamping the stock of higher quality cash flowing assets (ie leveraged loans or tech stocks) ... but for once and to paraphrase Milton Friedman ... speculation is NOT always and everywhere a real estate phenomenon...