"gindaldan---shows how much you know---people are getting discounts on 1997 prices---i cant believe how stupid some of the posters on here are"
No, you're naive like most typical property bulls.
I am quoting information received from various RE agents/large RE business owners I am affiliated with. These are not your typical small time owners too. So the people directly involved in the industry are stupid too? They don't say anything in public besides 'softening' or 'it'll bounce back soon' because of their self interest. To be frank: the property market is $%^&ed.
I could only imagine 'discounts on 1997 prices' would be in relation to apartments or rural property. I'm based in SA, it is getting uglier. Bank finance for both business and property is getting more and more difficult. Where is all this money going to come from for the next boom with credit contraction occurring globally and specifically now in Australia? Australia is not isolated from the world's boom/bust. IT CAN AND IS HAPPENING here.
I'm also curious, what qualifications in finance or accounting do the property bulls have in here? My bet in nil. Infact anything associated with real estate besides reading 'get rich quick from property' magazines/seminars.
