When it comes to property: Fear sells!

Maybe it is just my imagination but it seems that Australia’s media has become more sensationalist over the last decade.

Take for example the Australian residential property market. Had you listened to many of the media’s “talking heads”, you would have jumped out of the market 10 years ago. That may not have been good advice.

Remember Dr Steve Keen in 2008? He predicted a 40% price drop for residential dwellings. The media loved him. Thankfully, someone held the Dr to account and bet against him. Having lost the bet, Dr Keen had to walk from Canberra to Mt Kosciusko. This was a rare occasion where a doomsayer actually had something to lose. Most media “experts” are never held to account.

In response to all of the negative news about our economy, we have decided to run a positive facts stock-take.

The next time you are watching TV, or reading a news article, that is predicting a collapse in property prices, spare a quick thought back to the support our media gave Dr Keen’s predictions. Fear sells.