If I swore i’d be &%($#)@ angry!
ByI’m not prone to anger but I couldn’t help but be very annoyed this morning to see the rash of dishonest articles in our main media. No less than 3 leading pieces saying how well the property market was doing in the apartment and premium property areas.
It is cleverly written lies penned by real estate principals and they are in fact adverts for their upcoming auctions or sales. The reason I get so wild is that this blatantly misleading advertising dressed up as news. Reading these articles any uninformed investor would be flocking to the next apartment auction or looking at premium real estate because now is the time to buy.
The truth is that the apartment market is in tatters and whilst it will recover the only reason there are sales volumes currently is people going under and losing their properties to the banks. There is no recovery in sight at all.
Premium property also is languishing, who wants large new debt right now?
In fact it is interesting where I am staying there are 3 primo subdivisions close to or on great beaches that can’t get any sales and if you ask a local if anything is selling they can’t remember when the last property sold.
There are opportunities in property, no doubt about that, but unless you are a specialist those opportunities exist in bog standard, freehold houses and units in MAIN CENTRES ONLY!.
So once again please, please take no notice of the Herald and other daily’s talking up property. As soon as you see it is written by or quoting extensively a real estate licensee you can stop reading. Whatever follows will be sales speak, (technical term for lies).
Spent an amazing hour praying in the sun on the beach today, starting to feel human again. Look out world when I get back next week!!
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
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