This is the perfect example of the mom and dad 'investor' I was referring too. The fact remains, invesment propoerties are risky and if you take the advice from some corners of our community that prices never fall, you are in the wrong game.
Your post, the media and real estate results highlight the real fear that is now sweeping the market!
Borders & Co are gone, Telstra cutting contracts (new contract today) and leaving 1000's unemployed in one sweep. Foot traffic in retail stores, let alone sales are very worring! Australia didn't have a recession yet our sharemarket is lagging behind those still in recession. alarms bells anyone?
Don't go blaming the media or people that have bargained on a crash... they are also taking a risk in the fact prices will fall. I know what side of the fence i'll watching from.
