The Real Estate Industry is fuming at the government for not consulting with them. The Australian reviled yesterday that in the four months since the election the Gillard Government has not contacted the Real Estate Institute of Australia (REIA) for any advice. According to the institute, they had long provided research and advice to the Federal government.
The REIA is also scathing at the decision of the government to abolish the position of dedicated housing minister, opting to spread the responsibility of the portfolio between three ministers. The government has defended the issue, with a spokesperson saying “Social housing, homelessness and housing affordability involve many complex issues and it is appropriate that they receive the focus necessary to address them”.
ยป Property sector turns on PM – The Australian, 31st January 2011.
No sure if this indicates:
A) This government really is full of amateurs.
B) Doesn’t understand the implications of a burst bubble gathering pace
C) Thinks other issues are more important
D) Accepts the moral thing to do is to allow the market to correct. (LMAO)
ha ha sucked in Ponzi Schemers
Let’s face it the Real Estate gang don’t know how to value an asset……..simple fact. They have helped the government fudge the figures for years through their statistics and over valuations, creating this massive bubble.
They have a conflict of interest between the value of the asset and the commission they receive. It has kept them all in a nice job for a very long time. Yesterday I saw an estate agent driving a new Maserati ! He will be trading that in soon for a Fiesta in a years time.
The banks don’t care either way as long as they get you on a nice big home loan for 30 years of interest.
I reckon the Govt knows that housing is crashing and does not want to highlight the issue (just like elections – nothing at all was said about the problem nor was it debated).
In a few months time it will be too difficult for ABS to fudge the figures and the truth will have to come out.
That’s when the truth about Estate Agents will come to light.