Equity markets rallied when Donald Trump was elected president in November 2016. For real estate securities, though, the environment has been more challenging.

What do trade fairs, exhibitions, conferences, conventions, business travel, package holidays and city breaks have in common? Apart from the inevitable tedium of getting to the particular business or tourist destination and notwithstanding the growing prevalence and irritation factor of AirBnB, somewhere for the people participating in those events to stay; a hotel and a bed for the night.

In many ways, Australia remains a blessed and lucky country. This past April, Australia recorded 26 years of growth without a recession. Despite this, danger signs are ahead, especially for the residential sector.