PHOTO: Contrary to the doom and gloom forecasts, you won’t have to be handing your home over for next to nothing any time soon.

HERE we go again. Another round of commentators have come out with fresh forecasts of a coming 40 per cent drop in house values.

The predictions have naturally been sending shockwaves across the housing market, but let’s be honest. It’s all garbage. And it’s the same garbage “experts” have been peddling out for years.

The problem is that many people will no doubt believe it. One of the quirks of human nature is that we seem to place more credibility on bad news and scrutinise good news, so it may be tempting to take the dire forecasts about the housing market as gospel simply because they are negative. It’s a trap.

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