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House price hypocrisy. An Advertiser and real estate ramp.

November 29, 2016

Here we go again. A newspaper headline lauding the fact that there has been another (unaffordable) leap in Adelaide home prices…this time by more than two percent in a MONTH.

It wouldn’t of course, would it, have anything to do with the fact that a large (very large) part of our morning newspaper’s advertising income comes from the real estate industry.   Of course not. Only a cynical old bastard such as “Grumpy” would see any link.

While the soaring cost of a roof over your head is manna from heaven (or Waymouth Street) for the real estate industry, spare a thought for the young generation facing almost insurmountable price rises for a roof over their head.  Rocketting rouble rip-offs that have a flow-on effect on other money-grubbing schemes such as the emergency services levy,   stamp duty grab,  Natural Resources  Management Board rort, etc etc.

If you are in the fortunate position of owning the roof over your head, the “up” escalator of  real estate prices means diddlysquat if you decide to move, as (unless you go down-market) the replacement bricks and mortar will have risen by the same amount. Rocket science it ain’t…

Only the real estate vultures feather their nests .

 

 

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