They are worth what people are prepared to pay, right now people have plenty of time to look to see if a property has value,no one believes the real estate hype anymore, and guess what those people that are buying, are offering much less. Reading the property forum, one observation stands out for me, repeated over and over again is that the print media is so tied to real estate advertisement income, that it has lost its ability to tell the truth, take a look at your weekend paper, how much is devoted to house sales,land sales etc, could that paper survive if they no longer took that revenue, how many stories of late have toed the line and touted the end of the real estate slump, well guess what it hasn,t happened and people no longer believe what they read, i for one no longer buy a local paper anymore as this low level of reporting will only trying to deny so many the australian dream of home ownership, my daughter included. ps, i work in the mining industry, and what is so refreshing is that the general consensus is that saving and paying cash is the aim of so many, they will name the price when they decide to buy.ps and the banks will weep.
