Quote:
Originally Posted by KG8
A lot of the information on RE comes into the mainstream media directly from the REIA. It is an organization funded by real estate agents is it not? run by the real estate industry. The real estate agents wants to sell houses, if they don't, they starve or go back to driving cabs and working in factories. At current rents, current prices and current interest rates it makes no sense to invest in residential property. But if rents are going to double? Well now, that is hope for the future. And if I really really hock myself, eat catfood, walk to work and cut off my home phone, then I can get on the property ladder before it's too late! Before home prices double again to an average of a million dollars in ten years time. 
http://patrick.net/housing/crash.html |
I appreciate your cynicism KG8 - and by that I mean I share it! - but notwithstanding the self-serving spin of the REIA etc, rental prices are definitely escalating over here, and very markedly. One of my sons has needed to move twice in 2 years due to leases running out and landlords selling, and each time the rental rises for equivalent accomodation have been very high.
Says something about public housing availability, and full-on laissez-faire market philosophies to me as well.