Saturday, Dec 15, 2007
And the Americans are slaughtering themselves on the road to Bagdad...
Ass etz: Squaring the circle on house-buying and rents
"There's a dual effect of rising house prices, which prices more potential first-time buyers out of the market - which means they have to rent, and rent for longer than they would have done. There's that dual impact, and that's what's tended to happen over the last few years."
thus expanding the rental market (I guess he meant the rental demand, but did not mention rental supply has doubled since 2005). "A reversal of trend in which 2008 became a year of falling house prices would not see a reversal of the renting trend" (not clear, maybe he was drunk) "If anything, the uncertainty with house prices will put off potential first-time buyers - on the basis that they could, potentially, buy a house cheaper later on." (So BTLs lose and FTBs win!!)
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