On this very day, the 5th of February, two years ago we reported on two Real Estate agents posing in the media as buyers saying it is never a better time to enter the market. Both had just brought their first home, and despite prices falling from the GFC, were apparently looking at buying a 2nd property as an investment. The article resulted in legal action, as one of the agents sought to silence us.
Once again the market is softening, and once again Real Estate agents are posing for the media, this time as an excited First Home Buyer, saying naturally that for first home buyers – it is never a better time to buy.
Credit for Today’s discovery comes from the Tasmanian Real Estate Trouble who reports on the article tittled First home buyers slowly returning to Queensland property market after historical low published by the Courier Mail.
The Courier Mail reports on First Home Buyers Ben Markwell, 23, and Elizabeth Brier-Mills, 22 :
Mr Markwell said they decided to buy a home at Collingwood Park when they discovered it would not cost much more than renting.
He said the first home buyer’s grant was a great incentive to people their age.
“I think people now in their early 20s are quite interested in property. They are interested in getting their first home,” Mr Markwell said.
After the writer for the Tasmanian Real Estate Trouble blog entered Ben’s name into Google, he found one Ben Markwell that just happens to look like the first home buyer pictured in the Courier Mail, only this time in a Century 21 Jacket. The blog writes :
And that’s Ben, in his regal looking Century 21 jacket. Cute isn’t he? You could just squeeze those chubby little cheeks. See in addition to being a a first home buyer, Ben is also a real estate agent for Century 21 on Brisbane’s westsiiiiiiiide. So there’s little surprise he thought the first home buyers’ grant was a great idea, and young people were interested in property and buying their first home. In the confidence game known as the real estate industry it’s important to create the impression people are buying houses, especially when buying is at record lows.
As we said on this very day two years ago “The next time you read an article in the paper about someone buying a house or investment property, be sure to run the new owner through Goggle to see if they are an agent. There is extremely good chances they are.”
Also check out the Tasmanian Real Estate Trouble Blog’s analysis of the figures used in the Courier Mail’s article.
» Tasmanian Real Estate Trouble Blog: Yes, we are open! – 5th February 2011.
» First home buyers slowly returning to Queensland property market after historical low – Courier Mail, 5th February 2011.
» FHO returning to property market CM spruik – Simple & Sustainable Forum.
With over five years of stock for apartments on the Gold coast, the word “oversupply” seems to be popping up more and more.
Panic can’t be far away.
So is anyone going to report Century21 to some government body for fraudulent behaviour?
He can definitely kiss that chick goodbye when his life turns to mush!
Prices here in Melbourne are holding up, thanks to the under supply of available land to build on and of course generous lending by financial institutions. Town planners, unless tackled by governments, will continue to maintain the restriction on available building land. These self serving bureuacrats , a part for lining their own pockets, ensure that the supply side part of the bubble stays in place. The demand side is taken care of by the financial institutions who are willing to lend to almost anyone. As much as I would the bubble to burst in Australia I believe given the shortage of housing and relentless immigration without the appropriate planning for housing and infrastructure needs the price bubble will only grow, unfortunately in short to medium term. There are too many vested interest groups who what to maintain the bubble at any cost