This is exactly the sort of fear mongering and negativity that has allowed me today to pick up a house at well below market value.
The fear in the market is driving some vendors to panic and sell at silly prices - partly because there are very few buyers as many are scared sh.tless due to the negative media hype and are hence sitting on the sidelines waiting to see what happens. By the time the news headlines turn more positive it will be too late and buyers have missed out on some great buying opportunities.
I mean headlines like "Rates drive fall in house prices" look really bad. Then one reads the actual story and it says half the nations cities have INCREASED in value in the last quarter and the other half have decreased by a couple of %. An overall FLAT result.
A big thank-you to the media. They have just made me some serious money by helping me to buy an absolute bargain compared to the "current market" price which I conservatively put at below the late 2007 price.
Seasoned and successful property investors I am sure would be looking around at present for their next purchase. Perhaps another 3 to 6 months at most to get that great deal.
