The propagandist will pull out all the stops in the next couple of months in a futile effort to stem the tide.
They are getting really desperate.
These guys while all blowing bubbles about house prices actually have different agendas. Seeing their overseas counterpart, the banks freeze in fear of a mortgage meltdown, the house price data mobs are spruikers that make money directly from properties, get advertising revenue and run investment seminars (yep. Ponzi !)
The HIA needs construction activites (hence talk up prices to create demand) while REI (just need transactions for their agent constituents). Creating more supply in new construction actually do them no good as developers sell the units not them (at least initially).
After losing the battle to talk prices from falling, when prices crash, they will condition the vendors to heftily discount to ensure trasaction volumes.
