Summary
Phil extends the Buffett Indicator concept to land: nobody tracks US land value to GDP, but Australia does (due to Henry George’s 1889 visit). PSE tracks the Australian Land Price Barometer — land value relative to GDP — as a unique cycle indicator. No other group in the world does this measurement.
Key Claims
- Australia accurately measures land values due to Henry George’s 1889 visit spurring land taxation debates. — confidence: high
- PSE’s Australian Land Price Barometer tracks land value relative to GDP — unique globally. — confidence: high
- The US and UK don’t accurately measure land values, making the Australian data the best proxy. — confidence: high