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Property downturn will hit hard, experts say

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Australian Broker | 29 Jun 2015, 06:00 AM Agree 0
The wealth of Australians has hit a record high, but with most of it geared into property, households are exposed to risks
  • Tracy | 29 Jun 2015, 12:00 PM Agree 0
    Is is any wonder Australians rely on property for asset accumulation when again and again we see rorts, fraud, conflict of interest and self-interested advice from "financial advisers".

    As long as a financial adviser's income relies on placing the client into a product rather than giving him/her impartial advice, the instincts of Australians to invest in something they understand are not so stupid.
  • Papery | 30 Jun 2015, 08:45 AM Agree 0
    The only thing most Australians think they understand about ppty is that the value always goes up & someone else (a tenant or tax rebates or a future purchaser) will cover the repayment.

    Most punters don't associate any risk with ppty. Most FP are not authorised to advise on ppty, so their first word of advise is to sell & put the proceeds into a Financial Product that they can advise on & also charge a premium for the privilege. It goes without saying that many FP products are complex & carry there own set of risks & most punters have no idea what they are getting into. The media is full of stories about people losing their nest eggs.

    And there are as many spruikers 'advising' on property/finance & also taking advantage to secure a sale/commission.

    There's no one size fits all....buyer be ware.
  • Yawn... | 30 Jun 2015, 04:26 PM Agree 0
    Sounds like a unpaid advertisement....
    For the past 30 years, the same issue/opinion gets 'raised/public airtime' every three years.
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