With so many differing opinions on the real estate and property investment markets, here are my top 3 words that are used with monotonous regularity by property commentators:
What ‘bubble’ is supposed to mean: a speculative mania.
Steve Keen is perhaps the…well…keenest user of the word, famously predicting a 40% crash in property prices in 2008 which was a spectacular miss.
He’s still going strong though.
Only in May this year, he predicted that dwelling price declines would accelerate and he would let the figures do the talking.
They didn’t and he didn’t.
What ‘bubble’ usually means:
“I don’t own any property and I want prices to crash so I can buy some.”
What ‘spruik’ is supposed to mean: the equivalent of the British word ‘tout’ i.e. one who solicits for business in an inopportune manner.
What ‘spruik’ usually means:
“There are loads of shonks out there, but as I have used the word ‘spruiker’ to describe others, you can definitely trust what I say…I’m fair dinkum!”
The king of over-used words by property commentators, some of whom manage to use it on a near-daily basis, which is no mean feat.
What ‘furphy’ is supposed to mean:
Australian slang for a rumour or erroneous story.
Etymological derivation: Aussie soldiers used to stand around stock agent tanks (made by J. Furphy & Sons) during WWI and exchange gosssip, rumour and fanciful tales.
What ‘furphy’ usually means:
“I’ve decried the views of others as furphies, therefore I am an expert…everyone else, though, is a spruiker!”
SUBSCRIBE & DON'T MISS A SINGLE EPISODE OF MICHAEL YARDNEY'S PODCAST
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
NEED HELP LISTENING TO MICHAEL YARDNEY'S PODCAST FROM YOUR PHONE OR TABLET?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
PREFER TO SUBSCRIBE VIA EMAIL?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.