US doomsday forecaster Jordan Wirsz now prefers to keep Australian housing crash predictions to himself

Eight months ago self-promotional US real estate analyst Jordan Wirsz came to Australia to tell anyone who would pay to listen that Australian house prices would fall 60% over the next five years.

Wirsz’s outrageous claims even went further than US property bear Harry Dent, who has tipped a 50% slide.

Although not many people in the property market have heard of him, Wirsz’s contentions that Australian house prices would crash garnered headlines in the News Limited press of a “Bloodbath to hit Australian real estate”, while the ABC went so far as to call him a “global property analyst”.

His “bold predictions” about the Australian market can still be purchased for an $89 “enrolment fee”, but it appears that he now prefers to keep his opinions to himself.

“I have many 'thoughts' on the Aussie property market, but I’m really not all that eager to get into media debates again,” Wirsz tells Property Observer.

“I’d rather come back in a couple years and discuss it then.”

Well-known property market analyst Margaret Lomas debated Wirsz when he visited in February.

She says she challenged him on his facts and Wirsz’s only response was to say they were “on the internet”.

It appears the Wirsz continues to cherry-pick stories about the Australia property market to justify his claims.

In March, Wirsz’s Facebook page linked to an article that appeared in Perth Now with the headline “Property prices battered: Top 10 worst hit areas revealed”.

Wirsz commented that “It happening just as predicted....”, although the article said that home prices had lost almost half their value in “some parts of Australia”, with an RP Data list of the top 10 median price drops in percentage terms for 2011.

His Facebook page profile picture shows Wirsz hugging American self-help author and motivational speaker Anthony Robbins.

Wirsz suggests he's achieved over $500 million in sales and advised Fortune 500 CEOs about real estate investments.

He describes his life so far on his Facebook page as “a storybook tale of rags to riches, overcoming the ever-so-common challenging childhood, and working hard to attain his massive successes”.

Other descriptions appear plucked straight from Charles Dickens.

He describes himself on PRWeb (a press release distribution website) as “having come from a broken home and spending much of his childhood alone, even calling 4-1-1- up to 25 times a day just to hear another human's voice, has decided to take his challenges and turn them into a passion for feeding the world his secrets to his extraordinary success”.

His Facebook page is full of motivational quotes.

He lists as his “awards” as “recognised by members of Congress, Senate, and state hovernment” and describes himself  as a “former fund manager, private capital financier”.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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