Monday, Dec 24, 2007
Some Home Truths
Telegraph: Houses taking longer to sell as slowdown bites
"...mortgage lenders have not extended as many loans ..."
"Hometrack has warned that home owners will need to start cutting their asking prices significantly if they want to sell their houses."
"A big proportion of people who move house do not need to - they are only doing so because they can afford to," said Mr Donnell.
"At the current pricing levels, they might as well just sit on their hands and wait for the prices to come down."
And if the whole chain renegotiates downwards, then the ONLY LOSERS are the baby boomers at the top and all the financial industry vested interests.
Most of us WIN.
Posted by voiceofreason @ 10:59 AM (528 views) Add Comment
2 Comments
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1. alan said...
Many baby boomers see the benefit of a return to sensible house pricing. It could be argued that high house prices = high mortgages = higher national debt = national instability. I personally would prefer to see money invested in this country's economic and commercial sustainability and not in higher house prices. The levels of national debt frighten the life out of this baby boomer!
You failed to mention among the losers the "get rich quick" property buyers, who think they can emulate the "stars" of TV property flip programmes. I've known a few. I'm beginning to feel sorry for these people, but I haven't quite got to that point yet.
2. inbreda said...
Feel sorry for them?!?!?!?!?!
Yeah - not quite there yet myself.