FONGO, FOMO, Wowee is all I can say. WOOOOWWWEEEEE. OMG WOWEEEE. WTF, I probably can’t say WTF so delete the WTF and leave it at WOWEEEEE. Literally a few weeks ago Mid 2019, all of the property news was about FONGO that is Fear Of Not Getting Out for vendors rushing to try and sell before the market dropped more and more and more. Quick, hurry, quick must sell now that’s what the news read.
Now, this weekend just gone July 2019, the papers are awash with FOMO, unbelievable FOMO that is Fear of Missing Out for Buyers. OMG. In a matter of a few weeks we have had a news driven 180 degree turnaround. Now whether these articles are right wrong or indifferent finance and property journalists prove time and time again that they are simply writing stories with headlines to sell papers and online subscriptions and not reporting the actual facts. Yep this dead set fake news.
The problem is that the facts and figures overall for property in Australia is boring. Stupid boring stuff. Who wants to read that every day that overtime property has always risen? Who wants to read that property today is more expensive on average than the 1970’s 80’s 90’ 2000’s etc. Nobody reports about how consistently good property is over time because it’s a boring headline.
Forget the news, go and make a cup of tea when the property reporter comes onto the TV to talk about the market because I can tell you what’s going to happen forever. Prices over time will rise, they will keep rising and people who take the step to buy now will reap the financial rewards. I’ll never get a job as a journalist I’m too honest but I reckon I know a much better way to make a lot more money than a journalist and that is to buy a property today and hold onto it forever.