Boom

It's not everyday a guy blows himself up on the North-West of Tasmania. Guy Fawkes night isn't that popular any more, which stops the most industrious Dads passing down their backyard knowledge of fireworks to their kids.

First National Real Estate CEO, Ray Ellis, however is an exception.

Yesterday, Ellis and his unnaturally large set of Captain America white teeth, found himself sitting on a box of dynamite with a quick burning fuse after suggesting, well I'll copy/paste so you can regale in the comedic horror:

"SELFISH" baby boomers are keeping generation Y out of the housing market, First National Real Estate chief executive Ray Ellis believes.

Mr Ellis paid out on what he called the "most self-indulgent, spoilt, want everything for nothing generation that ever existed" in an exclusive interview with The Advocate during a visit to the North- West on Wednesday.

He wants governments to encourage boomers to move into smaller homes to free up housing for younger buyers.

"They want high property prices - so generation Y can't buy a house - so they can continue to lead their self-indulgent lifestyles."

He said boomers controlled the nation's wealth, housing market and economy and wanted that to go on forever.

Understandably, more than one person from that "selfish" generation was keen to lace up their Niblick Walkers and kick Ellis's big white teeth in. They may have to take a number though, given the untold damage this could do to the local First National offices. First National communications manager, Stewart Bunn, really has some work to do helping out the local offices rebuild their image after being associated with this kind of publicity. I'm tipping the owners are currently investigating how quickly they'll be able to re brand themselves. It may be less costly than riding out this storm.

Given RE/Max doesn't have a coastal presence, there may well be one soon.

Ray's biggest boneheaded mistake is ignoring what will take place as people age. The baby boomers are the biggest holders of real estate and consequently have most of their wealth tied up in real estate. They don't need any incentive to downsize, it will be a natural process. Boomers will realise you can't sell off a bedroom when you want to unlock equity. Any cajoling from the likes of Ray Ellis is ludicrous in the extreme, but as is expected from the real estate industry, it's what's best for us, lobby the hell out of government and screw the rest.

Grabbing The Advocate, I found the Ellis farce was not restricted to slagging off baby boomers. In a side article he was also suggesting a statue be erected in honour of Devonport Mayor, Lynn Laycock, because of her support for population growth.

Within another two paragraphs I sensed Ellis had actually slipped into parody and I began to wonder - was this guy a metatroll?

He said population growth led to rising house prices... and to towns becoming the size where they would attract employers like McDonald's, or a second McDonald's.

Open the floodgates please! Higher house prices and a McDonald's on every corner. While that is funny, Ray has done better work in his time.

First National Real Estate CEO, Ray Ellis, is calling for scaremongering real estate analysts to be held accountable, after predicting a ‘housing bubble burst’ or ‘affordability crisis’, amidst claims Australia has the most overpriced property in the world.

To what account would he like an analyst, and let's face it, an honest one who actually urges caution, to be held to? If you read through this blog there's plenty of examples showing what happens when fools rush in.

What does he tell the people who can't sell their house, whose listing has been on the market for six months, they've discounted to the point of negative equity, they find lending figures have gone off a cliff and even worse, listings are now springing up as competition all around them?

Rewinding back to sale day and erasing all the BS real estate myths they fell for isn't an option. Eventually people baulk at taking on greater debt loads to pay bigger prices than the last guy, essentially the fools run out and all indicators are we're at that point.

And how does Ray deal with the 'scaremongering' talk of a bubble? He suggests Australia will be short 600,000 houses by 2015. Scary eh? Fingers crossed it's not you living in a cardboard box.

Finally, as The Advocate investigates on online pay model, they have to be Charlie Sheen/hookers/blow happy with the past few weeks. They've found the lightning rod that attracts the crazies, like me, to their website - real estate stories. Comments in the double figures, increased page clicks from all around Australia and potentially people clicking their ads.

As I'd already pointed out, this would happen (sorry I've become Chris Joye again) so expect to see more real estate stories. Right now 'real estate' has surpassed 'sex crime' as the hot button issue to draw the readers in. Last night, the first story on The Advocate website was up 2 1/2 hours earlier than normal and guess what it was about?

So what better time for The Advocate to buy this site for huge dollars and incorporate it into their website?

Oh damn, that bubble already burst.