Terry RyderThere’s lots of money to be made from the housing market and no shortage of people who present themselves as experts to attract business. The reality is that most of those who pontificate on real estate have little to offer in the way of real knowledge.

Real estate consumers want to know what’s happening with property, why it’s happening and how long it might continue. Most of the professionals quoted in media have little to contribute in that regard, because they lack expertise.

The greatest blight on the market has been the intrusion of economists who present themselves as experts but have no explanation of the extraordinary markets we’re seeing other than “low interest rates”. Property is surging because there are so many powerful factors in play, with the cost of finance a minor influence.

Headlines like “Prices will keep rising as long as interest rates remain low” are common but they mislead the public. The RBA could lift rates tomorrow and it wouldn’t make a dent in the momentum driving markets.

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