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Chris' sales people only ever told people to buy and hold for 10 years and the properties should double in value. When the Media first attacked Chris not one person had actually made a loss and he had, not one unhappy client from 5,000 Investors.

When the media states some properties are being sold overpriced, nobody wants to buy those homes, so you have reduced demand, and everybody wants to sell because owners think they paid too much, so you have increased supply. Simple year 7 economics lessons on supply and Demand would tell you that more supply than Demand will cause prices to go down. It is no surprise, that people who sold soon after the media stories, lost money. But lets look at the other properties that local Agents sold, and see if all of their buyers made money over similar time frames.

Crown Towers Gold Coast                        

 Property   Bought          Year            SOLD    Year             Loss       % 

  • Lot 35      $265,000        1997      $170,000   2001         $95,000      35% Loss
  • Lot 262    $725,000        1996      $470,000  1999         $255,000    35% Loss

Admiralty Towers Brisbane 

  • Lot 73      $318,000        1995      $250,000   1998       $68,000      21%Loss
  • Lot 99      $539,800        1994      $431,000   1998       $108,800    20% Loss

Grand Mariner Gold Coast

  • Lot 35       $427,500       1989      $265,000    1998      $177,500   41% Loss
  • Lot 154    $1,020,000       1989      $500,000     1997     $520,000   51% Loss

Investing in Real Estate in short periods is a risk and it should only be viewed as a long term strategy.

By telling people to sell into a market which was now distorted because of views broadcast in Newspapers and on National TV, the prophecy become self fulfilling, to the detriment of the poor people who sold the properties, and the media did not care in the slightest.