forget property. been around a long time. it will continue to...

forget property. been around a long time. it will continue to drop. forget rates, vacancies, rental rises and all the other stuff the media feed us. its going down. i know several large property developers, mortgage brokers, small developers and home sellers. its down 20% and falling. forget news papers, they dont work for you. The govt dropping rates, increasing first home buyer hand outs etc all means they see the writing on the wall. The state govt just introduced a bunch of new taxes since the stamp duty from property has plunged. take a look around and its all there for people to see. Even the IMF said it was over valued 30% on data back 60 years on any count. Politicians talk about 'affordability'. that is another term for / too expensive. according to real estate agents, rents will keep rising. sure, and the moon is blue. If Australia and the rest of the world heads into recession, rents will drop.... the exact opposite since people will loose jobs. There are so many modern myths around, its a friggen jungle. i know a lot of people think property is the holy grail and get upset when anyone says something against it. A lot of the current mess is because people borrowed toooooo much to buy this inflated asset class. Property. folks. the world is awash with for sale signs. If your still not convinced, then buy the financial review and tell me its not the new corporate real estate magazine. Pages of endless malls. I have just seen our local real estate news paper triple in the last 6 weeks and i live in a suburb where the average house price is $1m. Real estate agents kept telling folk that there were 2 markets...another myth. analysts kept telling people about the old economy and the new economy in the net boom. what ever.This is a hang over form our parents...they said..'property never goes down'.