KIngy... what a lot of bears, fail to realise in their rush to publish an article, that appears on the surface to justify their calls, that prices will drop... is the fact, that when households go into 'freeze' and stop spending....stop upgrading....the top end of the market is always the first to go....full stop...
they are the higher flyers...that have business and investment interests.....that are stalled...closed some...god forbid...are heavily exposed to the stock market...and will crash...the mortgage on that million mansion is the first to go...
so the majority of houses, selling, creating these new medians...are the lower to middle priced properties...
the median is the middle figure...in the prices sold
so of course the median will go down... cause the top end are either missing...or have fallen...but there are so few sales at the top end....that you lose a couple...which affects the median for that area
then the median displays a different figure...
I know the bottom end has doubled in some suburbs I watch...the middle properties cruise along...
if the bears were to analyse the median figures more closely....they would get an entirely different view...
and about some of those spruiking articles... it does not always come from property people....but the sheep at the end of the cliff...the ones who watch prices skyrocket...do nothing..then in a fit of panic...believe they must get on board...finally, cause all their mates are doing it... when the media suggest prices will rise....you should take a contrarian view.....
fact is... it must be too late...cause the media never ever catch on in the early stages of a boom cycle...
as is now...with all their gloom...its too late for gloom rates are going down....and will go lower...or freeze..there is no crash.....
also...a large proportion of some of those journos....are a mix of gen y, bordering on gen x...
oh, and the biggest doomsdayers on property....if you look behind the scenes...are to stockmarket people...so jealous of so much money being ploughed into property...they want your money...they hate the fact you get a loan and plough it into a roof over your heads... they would prefer you to rent, while you plough all that borrowed money into the stock they want to sell to you...
they are so short sighted...they cannot see what a great market ...going on, in the side...for the staid old bricks and mortar investors...who will provide the rental stock, for their clients...
