the media did the same thing after the 87 crash..... because the stocks had crashed, so the houses had to do the same....morons mentality
I hit Melb in 89, a career move, and sold my country home... all I heard from the media, was the same old....right up until about late 2003, to early 2004, when they suddenly decided, it was time to buy
I was watching the market in the early 90,s, and only saw one example of a cheap price... starting my own business soon after, took a load of time and effort...working 7 days a week... by the time I had come up for air, and was ready to buy... guess what, the houses I had been watching earlier at $200k, were now suddenly $400....
the media were not onto these changes...
so I took my savings and went on a buying spree in the country...I could get 4 houses for $400k
by the time the media had decided it was time to buy... my houses had tripled in price
I sold half of them, not because of what the media was saying... I just had so many offers, too good to turn down.. plus, I had first hand information, from on the street, from my own research...that prices were hot
I had originally intended to hold them for 10 years, or until they doubled or tripled in price, then off load them
so when this bonanza arrived within 3 years...I stuck to my plan
why on earth would you listen to these 'pretenders'.
they need BIG SCARY BAD NEWS, to sell papers no one is much interested in 'good news' items
listen to them at your peril they are repeating their 'BIG BAD NEWS TODAY' simply to sell papers
**ask yourself why 60,000 people are selling up and moving to the outer suburbs of melb each year...
they want affordable housing, and to get a life they are leaving the expensive inner city frenzy to the newbies
