John McGarth - 2nd Chance

Influential Australian Real Estate Agent, John McGarth misleading 2nd Chance viewers that "a lot of people are nervous about buying in this real estate market, which is understandable because it is down about 20% over the past 12 months, but if you look back over the last 100 years property prices have doubled about every 7 to 8 years" and off course now is never a better time to buy "So if you are cashed up and ready to purchase, now is an outstanding time to be get into the market.

Mr McGarth, where do you get your facts about house prices doubling every 8 years?
http://www.whocrashedtheeconomy.com/realhouseprices1880to2008.gif

Did McGarth fail maths class where the power of compounding was discussed?

Category:

News & Politics

Tags:

• Australian House Prices
• misleading
• John McGarth
• Channel 9
• 2nd Chance
• Second Chance

[matthackett83]

Deadset fool and I pity any simple minded person who watched that show and believed him.

[rbaggio99999]

Ha ha John McGrath. On youtube, preserved for all time. History will judge you.

[nagaster]

Why is it that clearly false claims can be made about property (usually the biggest financial commitment in the average person's lifetime) are tolerated, yet someone can be dragged into court when over a defective product ? These frauds should be jailed for their own safety. When the bubble bursts, a lot of people will be looking to do violence on these criminals.

[Rentsthroughtheroof]

That is hillarious.... I am almost chocking from laughing !

House prices double every 7 years ? Let us see if this is indeed true;

7 years ago in Adelaide, 1n 2002, medium house prices were $250K. So, medium prices should have doubled now to $500K - but wait, medium prices in Adelaide have recently fallen to $380K !!??!!

What whent wrong with my calculation ? I must have srewed up somewhere. Every one knows house prices double every 7 years, the nice folk @ ch9 told me so !