why am i reading about rises and booms again???only month and a...

why am i reading about rises and booms again???
only month and a half ago "australian" has reported this:

NATIONAL PLUNGE IN HOME PRICES

David Uren, Economics correspondent | May 05, 2009
Article from: The Australian

TUMBLING house prices at the top end are dragging the national housing market lower, despite the influx of first-home buyers.

House prices fell for the fourth quarter in a row, with the 2.2 per cent drop in the first three months of the year lifting the annual fall to 6.7 per cent. The biggest declines were in Perth, Sydney and Melbourne.

2009 budget
Real estate analysts say a relatively small number of very expensive houses are being sold at big losses and this is skewing the national figures, despite strong demand from first-home buyers driven mainly by falling interest rates.

At its meeting in Sydney today, the Reserve Bank is widely expected to keep the official interest rate steady at 3 per cent, but financial markets still expect rates to fall to 2 per cent over coming months as unemployment rises.

Some economists say unemployment could touch 6 per cent on Thursday when the March labour force survey is released.

Rising unemployment is likely to weaken housing demand at the bottom end of the market, as may the expected termination of the boost to the first-home owners scheme, which the Government is expected to confirm in next week's budget.

However, real estate analysts say the main reason for the strength of prices at the bottom end of the market is that low interest rates have made it cheaper for young people to buy than to rent.

A year ago, it was twice as expensive to buy as to rent, whereas it was now cheaper to buy than rent in many suburbs.

Large price falls in Perth's most expensive suburbs drove average prices in the city down by 3.6 per cent in the March quarter, lifting the fall over the past year to 10.1 per cent.

Sydney prices dropped 2.9 per cent and are now 7.3 per cent lower than a year ago while Melbourne prices fell 2.3 per cent and are down by 6.7 per cent.

Sydney prices are now 7.9 per cent below their peak, reached in late 2007, and analysis by Morgan Stanley chief economist Gerard Minack says they are down by 20 per cent when inflation is taken into account.


.....if i can ask you again: why am i reading about clearances and booms when ALL OF YOU failed to admit (God forbid predicting it !!!) that prices are falling ???

lets look at it from the TRUTH angle: (prices)are lower now than what they were a year, year and a half ago and they are going to be lower still in another 6-16 months !!!

if you can wait (already have a roof over your head) it can only be cheaper in several months time !!!!

THERE GOES TRUTH !!!

http://www.theaustralian.news.com.au/story/0,25197,25430542-5013404,00.html