I agree with tricky,Last week some numpty rang in on "Your money...

I agree with tricky,


Last week some numpty rang in on "Your money Your call" on sky business channel property segment.

He told the panel he'd just paid $650k for a townhouse in Essendon(inner n/w melb) and wanted to know how much capital gain he should expect to make over the next 12-18 months.

I nearly fell off my chair. I thought it was a prank call.

Did they laugh at him and suggest property's a long-term investment like they should have?.. NO, instead pumped him up.

Now i blame that crap property show hosted by Margaret Fulton for this over-hype, she continually talks up even the worst of property you rarely if ever hear her with a negative view on anything regarding property. Only interested in promoting her own books and business interest.

I also recall hearing a guy ring in one night and asked the real estate agent(from sydney) if he thought 190 grand for a vacant 400sq metre block in cranbourne was good value..
For those who know cranbrourne would know you probably wouldn't live their if you had a choice. Its low cost housing outer south east melb 45 k from the city. No offence to anyone from cranbourne but its no Toorak. The agent from sydney says " yeah mate that sounds like terrific value to me on my calculations without knowing the area ". WHAT A JOKE.

The sharemarket version of that program is less biased, ok some brokers will put an extra positive spin on the stocks their holding but they are pretty quick to point out if the stock someone's enquiring about is a 'dog' or not.

I wonder where Margaret and her blood-sucking mates will be when rates hit 9% and there's no first home grant to reel all the young ones in.