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New Ea Trick

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I've notice two EA's up to a new trick during the past few days in Oz.

Ever since John Symond came out with his comments last weekend there have been numerous anecdotal reports of sellers accepting lower prices etc.

But now there's a new trick. What do you do when a new development is 70% unsold and there's more houses for sale all around it? It looks bad especially with the warnings of a crash so you TAKE THE FOR SALE SIGNS DOWN.

That's right. Just go and take most of your for sale signs down and that way when people drive around the area everything looks "normal".

But I do see this as being a bit like having a car with a worn engine that is blowing smoke. You might get fined for pollution so you decide that since it is the engine oil that makes the blue smoke possible in the first place, it will go away if you just drain the oil from the engine. So you do just that and turn a worn engine into a completely stuffed one.

This seems a bit similar. Properties not selling so we stop advertising them so much. My guess is that will only make them even less likely to sell. The EA's seem to be clutching at straws here...

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