abc radio - housing affordibility

http://www.riotintocoalaustralia.com.au/ouroperations/321_hail_creek_mine_601.asp


Two so called property experts that basically spruik the hell out of property under the guise of housing affordability.

All the usual stuff;

Housing shortage and pent up demand, cant see properties falling, only down 1-2% across aust, people invest in property because it is a risk free investment, Australia is different to the states in loans, housing shortage etc etc.

Basically if you cant afford a house now then forget you havent really got much of a chance. All this from 2 professors, what a joke.

There are so many vested interests in property in this country that I think that we will see more of this rot spun out to the naieve public to try and keep the property bubble inflated. Just pigs feeding at the trough for as long as they can.

If you can get through the whole thing one caller at the end, an ex property investor, makes a good call. He says there is no money in it, yielding 2-3%, youre better off having your money in the bank.

Cheers

Retrac