Australian property prices are often treated as a national scoreboard—up means success, down means failure.

But what if that assumption is wrong? In this episode, we interrogate one of the most polarising ideas in housing today: that Australia’s obsession with ever-rising property prices is doing more harm than good.

Joining Veronica and Chris is Adam Schwab, founder of Luxury Escapes and a sharp, outspoken commentator on economics, inflation, and corporate behaviour. Coming from outside the property industry, Adam brings a contrarian lens to housing—questioning whether property has become an unproductive asset, how easy credit and government incentives have distorted prices, and why policies like 5% deposit schemes may be helping vendors more than buyers.

The conversation digs deep into rental yields versus capital growth, the role of the RBA in inflating asset prices, and why high house prices don’t actually benefit most owner-occupiers. Adam challenges the idea that owning property equals success, arguing that Australia’s fixation on housing is crowding out productive investment, innovation, and long-term economic resilience.

This is a robust, sometimes uncomfortable discussion about incentives, risk, and who really wins when property prices keep climbing. If you care about affordability, fairness, and the future of Australia’s economy — not just short-term price movements—this episode will force you to rethink what “good” housing policy actually looks like.

Episode Highlights

00:00 — Introduction to the Episode and Guest

00:56 — Adam Schwab's Contrarian Views on Property

01:37 — Debating Property Prices and Investment

02:49 — Renting vs. Buying: A Financial Analysis

05:43 — The Impact of High Property Prices on Society

19:02 — Monetary Policy and Housing Market

26:50 — Reverse Mortgages and Their Implications

27:32 — The 40-50 Year Loan Debate

28:31 — Government Policies and Housing Market

29:09 — Economic Logic vs. Political Motives

29:33 — Risks of New Property Incentives

31:22 — Banking System and Housing Bubble

33:41 — Immigration and Housing Affordability

35:28 — Leveraging and Property Investment

42:20 — Comparing Property to Other Investments

47:53 — Global Talent and Property Prices

49:51 — Concluding Thoughts on Property Market

About the Guest

Adam Schwab is the co-founder of Luxury Escapes, one of Australia’s most successful global travel businesses, which he helped scale into a billion-dollar brand. Beyond entrepreneurship, Adam has built a parallel career as a respected financial journalist and commentator, known for his sharp critiques of corporate behaviour, economic policy, and market incentives.

He is also the co-host of The Contrarians podcast, where he regularly challenges mainstream narratives on markets, inflation, and government intervention. Unafraid to question sacred cows — including Australian property — Adam brings an outsider’s perspective grounded in economic fundamentals rather than industry orthodoxy.

In this episode, Adam applies that contrarian mindset to housing, offering candid insights into why Australia’s property system rewards asset inflation over productivity, how easy credit fuels bubbles, and why policy settings may be entrenching inequality rather than solving it.

Connect with Adam

1. Adam’s LinkedIn
2. Adam’s Instagram
3. Luxury Escape's Website
4. Luxury Escape’s Facebook
5. Luxury Escape’s Instagram
6. Luxury Escape’s YouTube
7. Luxury Escape’s TikTok

Resources

1. Visit our website: https://www.theelephantintheroom.com.au
2. If you have any questions or would like to be featured on our show, contact us at:
3. The Elephant in the Room Property Podcast - [email protected]
4. Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
5. Work with Veronica: https://www.veronicamorgan.com.au
6. Looking for a Mortgage Broker? alcove.com.au
7. Work with Chris: [email protected]

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See you on the inside,

Veronica & Chris