The 2017 Nobel Prize winner for Economics, Richard Thaler warned that Portugal’s real estate market was “heated”.
Speaking at the Vertex conference, which took place on September 18thin Porto, the co-author of the book “Nudge” which influenced President Barrack Obama, said it wasn’t yet clear if the next crisis would emerge from the real estate or financial sectors but warned that the real estate market in Portugal was “hot.”
«I think those who are paying little to get into Portugal’s market by buying property is running too many risks» he warned.
«I am an optimist by nature, which is why I am not going to predict that a catastrophe is knocking at the door, but it certainly could happen» he told journalists at the event.
Original Story:Essential Business
Photo: Time online