Wednesday, Jun 16, 2010
Are the young in North America rejecting home ownership?
The greater fool: "Hey dad you can either have a house or a life... i'm having a life!!"
I am wondering if the same article could apoply here in 2 years time?
Graph at the bottom shows 28% of properties sold in April 2010 were sold for a loss.
Posted by techieman @ 02:20 PM (1054 views) Add Comment
7 Comments
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1. Mikelivingstone said...
What the US needs is to send young American to summer camps in the UK. We'd soon educate them in the fact that house prices only ever go up and how property obsession can be the basis for an entire national culture.
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4. another alan said...
Interesting post. Thanks.
5. fjcruiser said...
One cannot just look at income vs house price ratio to measure house prices. Although the price-income ratio may have gone down since the bubble burst, there are other factors to consider when one buys a house. With job insecurity on the increase, prospect of higher taxes, that ratio could well be turned on its head and house prices do not look that cheap to me even in the US.The UK is still way above its long term average.
A whole generation has been burnt by the property crash.It may take decades for people to re-consider getting on the property ladder.
6. happy mondays said...
As Ewan Mcgregor say's in Train spotting " Choose Life"
7. drewster said...
Nice article, and interesting blog about personal finance in general. It's curious that Canada's property market hasn't tanked yet. I wonder what house prices are like on the US/Canadian border - there must be a fair few Canadians who have decided to snap up a foreclosed house on the other side and commute in daily?