I wouldn't worry about what talking heads are saying about the outlook for the market.
Predicting market direction has long been demonstrated to be a fool's errand.
I disagree, because Mr Joye accurately predicted the tsunami of reducing house and apartment prices we are beginning to see. It'd be far worse if auction and private sale volumes were at 2019 levels, but the 'value' drops are less than they ought be because many homeowners are declining to place their residences on the market as they know buyer appetite is just not there.
That Joye correctly predicted an economic occurrence in the past doesn't guarantee he'll be on the right tram for 2023 and 2024, but he achieved what hardly any other 'talking head' could not, so he's worth reading and listening to. He's not God, and I don't go to Mass to worship Mr Joye, but I can't dismiss his carefully nuanced thoughts out of hand as you do.
The only one who comes close was the Sydney gent who in May 2019 said:Professor Steve Keen says Australian house prices will fall 40% within five years
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Last
$8.59 |
Change
0.210(2.51%) |
Mkt cap ! $270.3M |
Open | High | Low | Value | Volume |
$8.38 | $8.59 | $8.38 | $66.48K | 7.789K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 70 | $8.43 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$8.59 | 816 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1999 | 8.420 |
1 | 99 | 8.260 |
1 | 500 | 8.210 |
1 | 122 | 8.190 |
1 | 250 | 8.100 |
Price($) | Vol. | No. |
---|---|---|
8.590 | 816 | 1 |
8.650 | 1000 | 1 |
8.700 | 1000 | 1 |
8.810 | 630 | 1 |
8.920 | 1600 | 3 |
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