re: property scams 4 cnrs program
There is one statistic that you can't ignore. Excluding the last 3 boom years property prices have risen on average at the same rate as inflation and wages for the last 100 years. Just look at how much the median property cost in your parents and grandparents time and compare it with the average wage of the time.
Anyone trying to sell you a property is only going to give you the figures for the last 20 years because that includes a few boom years and many of the years when inflation and interest rates were running at 15- 20%.
PLease don;t talk to me about individual suburbs. Everyone knows there were stocks that have were rising even while the Share market was falling. There will always be suburbs that do better than others. Trouble is, that everyone believes that they are/can be an expert and know their area so well and its just a matter of having to pick the right stock, oops I mean suburb. What you get is everyones collective opinions creating a market where prices rise everywhere. Thats whats created this bubble. Too many people investing that shouldnt be. It used to be only the top 10% or so of the population that actually invested in property. Now everyone does it. Reminds me of those sideshows that shout out - come and play,Everyones a winner. time people started getting real and getting out.
