Tuesday, May 08, 2007
Some first-time buyers forced out of property market
BBC: High home costs deter new buyers
Thank heavens for the BBC giving the Council of Mortgage lenders (CML) some column inches in this exercise in "completely stating the obvious". In March FTB were 8% lower than a year ago said the CML. Also the proportion of wages swallowed up by interest payments is now at its highest level for 15 years.
Posted by denzil @ 11:33 AM (149 views) Add Comment
3 Comments
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1. Scott said...
Higher prices deter first time buyers. Good God. What's next, smoking may affect your health.
2. royston said...
If it walks like a duck and it quacks.................! If there is anyone out there who doubts that the property market is suffering from a bubble, read this article.
3. paul said...
The BBC happily whoop and blather about rising house prices, while forgetting to mention any drops, constantly ramp the market without a care in the world for FTBs, but when the big bad Bank comes and threatens it all with a rate rise, the BBC jumps to proclaim "But pity the First Time Buyers!"
Shills. When the crash gets under way, they will be the first in the dock.