Property investment, Gandhi, Goethe, Live Aid … y’know that whole connection?
In his keynote speech at Progressive Property’s Property SuperConference 2012 (Progressive Property promise to show you how to acquire a “Hands-Free Property Portfolio That You Can Retire On”) Bob Geldof acclaims property investors as great entrepreneurs and applauds them for wanting to shape their own lives.
They’re a bit like …Gandhi (I swear, I’m not making this up!) … who, as we all know, was famous for preaching the redeeming qualities of buying Below Market Value.
Then he goes on to laud Germany for its relatively stable housing market – it’s not a casino economy based on property says Bob, because lots of people rent and rents are capped by the Government (“not something you want to hear”, he admits).
Ooops. Quickly changing tack, he then gets back to the flattering stuff (you’re all great entrepreneurs who will save the country!) and slags off the banks for not lending money to property investors and for giving themselves big bonuses.
And didn’t excessive lending get us in the mess in the first place? (Bob says it did at the very start).
And on it goes, compelling in a weird way, but utterly incoherent.
How very appropriate (and, I’m guessing, unintentionally ironic) that the former front man of the Boomtown Rats should be trying to make sense of the financial crash …
Over to you Bob …
Here’s the hyperventilating trailer for the conference …