Sunday, Jun 14, 2009
Dis-functional Britain
SkyNews: Recession Is Breeding 'Reluctant Landlords'
"Tim and Ursula Tavender are among them. Two years ago, they were married and bought a house together. But now they are planning on moving in with Tim's parents and letting out their home in West End, Southampton. They remortgaged it in order to carry out renovations - but when the market slumped, were left with almost no equity and major debt." 'nough said!
Posted by confused76 @ 10:46 AM (696 views) Add Comment
5 Comments
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1. confused76 said...
it'll be a cold day in hell before house prices start rising again!
2. paul said...
Does anyone else get the very distinct impression that the other foot is about to fall on the property market?
3. house said...
Obviously they did not listen to what was said on this site in 2007. If they had moved in with their parents in 2007 then they would have saved a lot money and they could be in much better position today. Perhaps this the message should be sent out to the current purchasers/propective purchasers who think that the prices have bottomed out only to find later they wished has waited.
But then you only learn by your own mistakes otherwise the world would be a perfect place with community spirit.
Oops I forgot the greed factor and that the prices of property never go down.
4. stillthinking said...
Even renting a flat is a huge chunk of your disposable income, freebie parent accomodation might be the only choice to get the deposit together.
The adjustment from 0% to 25%+ deposits is such a huge change. Saving up 30K takes a while.
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