Thursday 26 April 2018

John Drennan: A property revival threatens our attention-seeking dismal scientists

Is it time to abandon the new herd mentality and learn to love the housing game again? asks John Drennan

ANY cowboy, politician, developer, banker or economic expert will tell you the key to success is to learn the delicate art of when to leap on to (or more important still, off) a runaway bandwagon.

Of course dealing with the sort of herd mentality that drives such a band-wagon is complex. Some-times, as the economics writer Brendan Keenan warned so wisely at the start of our economic conflagration, the most important thing is to keep up with the herd if you don't want to be picked off by the various predators that hang around waiting to devour the weak.

But we have also learnt the very hard way that staying with the herd, particularly if it is a property bubble that is racing headlong towards a fiscal abyss, is the one thing you must avoid.

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