"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"
This is real estate speak for ( we wont say the market is falling until we sell as many of our properties as possible)
If you have an expensive house ask your real estate agent about selling and see what he says, i bet he will say to sell next year,or now is not a good time, (when he has sold lol)
The top end will fall 1st as first home buyers hold the lower end, its easy to hide the fall atm but when the first home buyers grant is reduced the crash will begin in earnest as first hoe buyers slow down hard then people rush to sell, its like the stock market but slower, the chart says sell and its a cycle, trend is your friend
the next 2 or 3 years of first home buyers are buying now or last 6 months, next year that will dry up
everything works in cycles, Australian realty is the most expensive in the world, it was the cheapest, its just easier to ramp as its smaller and different, like a jnr stock
remember the agents/experts only 6 months ago where still trying to tell you what hot spots to buy in, how supply is running out, ITS NOT, man what a ramp, remember these people and dont deal with them
If i was an agent i would not ramp things so much as they are in weak hands then, when its ramped up the fall is hard,
notice how they say oh i never sell but they mean YOU should never sell
Investors wont put the money into housing after this like they did and it costs you more in the long run
why would investors now put 500k or whatever the budget its at least 300k in a property that is expensive to trade and takes a while to sell
the housing boom was from excess lending and people thought prices will always go up so ma n pop jumped on the bandwagen and really drove it up, instead of astute investors holding its now people who dont know and borrowed to buy 2 or 3 houses, its a slow cycle and the mining boom delayed/increased it so its going to get MESSY
agents need to come clean and buy stocks before the next rise to survive
