I think the standard spruikers fantasy is that millions of people read these pages and they will be influenced by the comments placed here.
If the last comment they read says everything is rosy in the housing market, they will rush out and buy.
That is why REIWA never admit there is a problem with the market even when there obviously is. During the last downturn, at no stage did REIWA forecast falling prices. They would admit that prices had fallen but that going forward, they were going up and "there has never been a better time to buy than right now".
Real Estate spruikers are no different to Gold and Silver spruikers. They have a vested interest in the market going up and predicting even a 1% fall would kill the market dead.
You need to look at the fundamentals that drive the market and the Mikes and Skamys of this world will come up with all sorts of facts and figures to make it appear that those fundamentals are strong. If you disagree with them, they will try and shoot you down in flames.
The basic rule of investing in anything is not to believe a word that a vested interest party says. They may not be lying, but they will only tell you things that support their own position in the market.
If you want to know whether or not snake oil is an effective cure for cancer, don't ask a snake oil salesman.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
The basic rule of investing in anything is not to believe a word that a vested interest party says. They may not be lying, but they will only tell you things that support their own position in the market.
Everyone has a vested interest in property, since we all live in homes.
Quote:
If you want to know whether or not snake oil is an effective cure for cancer, don't ask a snake oil salesman.
Nor should you ask people who sell products that compete with snake oil, nor people who would benefit if the price of snake oil falls.
I think the standard spruikers fantasy is that millions of people read these pages and they will be influenced by the comments placed here.
If the last comment they read says everything is rosy in the housing market, they will rush out and buy.
If you want to know whether or not snake oil is an effective cure for cancer, don't ask a snake oil salesman.
Most people are suspicious by nature about RE now. One negative story outweighs 10 positive ones. We do good work here, exposing the lies and warning the public not to take on a million dollar liability while the economy is collapsing.
If it was a legal requirement to put the full cost of house purchase in BOLD on the top of a contract (interest + prnciple) I think a lot would go unsigned.
Shadow was hopelessly wrong about the Gold Bull Market. What else is he wrong about?
Everyone has a vested interest in property, since we all live in homes.
I accept that point. But for those who own, their vested interest is in rising rents and prices.
For those who rent or are looking to buy, it is the exact opposite.
I am not hoping that millions read my posts and decide not to buy in Perth because I think prices will fall. I know that my words don't have that power.
However, I believe that there are some on here who believe that they can influence the market with words (both up and down).
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Most people are suspicious by nature about RE now. One negative story outweighs 10 positive ones. We do good work here, exposing the lies and warning the public not to take on a million dollar liability while the economy is collapsing.
If it was a legal requirement to put the full cost of house purchase in BOLD on the top of a contract (interest + prnciple) I think a lot would go unsigned.
You sound like one of those "prepper" nutters who stockpile cans of corn because the end of the world is always " just around the corner". How would they put the total cost of the loan on a house contract when interest rates go up and down and people can change their repayment amounts?
You sound like one of those "prepper" nutters who stockpile cans of corn because the end of the world is always " just around the corner". How would they put the total cost of the loan on a house contract when interest rates go up and down and people can change their repayment amounts?
Everyone is a prepper. There are two extremes of preppers.
There are those who think we are about to be wiped out by an EMP or total economic collapse and they buy beans and ammo and dig holes in the bush to hide in.
Then there are those who prepare for a retirement of cruises and fine dining in a perfect world where their assets just keep on rising ahead of inflation and wages.
I prepare for the most likely outcome which is the bit in between the above two.
I am not a Goldbug but I own some Gold. I keep my cupboard stocked with food to last a week or so in case something simple like a fuel shortage or strike disrupts distribution networks. I never let my petrol tank go below half full. (I have experienced these events in my life already so I have learned a lesson).
I invest but I look at markets and economies with eyes wide open and I have never let myself be talked into buying anything.
All markets (RE included) have bull and bear phases and to take a permanent stance one way or the other is a guaranteed way to lose money. (in the same way that you don't bet on the same footy team to win the premiership every year).
You could argue that you don't know what your house is going to cost until you have eventually paid for it and you could also make the same argument for Gold. You don't know with Gold how much it actually cost you until you sell it.
Maybe Goldbug is a nutter but no more nutty than someone who believes that real estate will double in value every seven years in perpetuity.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Funny because the Perth median in the original article is stated by REIWA as 540k, your link states 535k and the RP median over the last 8 weeks averages at 527k.
Someone is talking bullshit.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
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