Wednesday, Jun 16, 2010
First-time buyers are shut out of the housing market
MoneyWeek: First-time buyers are shut out of the housing market
There has been much talk recently of the rise in the number of mortgage products available to those with small deposits. But the existence of these products is beginning to look rather more theoretical than actual.
Posted by damien @ 02:14 PM (552 views) Add Comment
2 Comments
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1. fjcruiser said...
This time is different: house prices cannot go down, there is a shortage of properties in the UK, you do not need first time buyers for the market to function....
2. miken said...
@1 I think that the market will soon run out of investors. Then first time buyers will be required to plug the gap.
Right now there are a few cash rich people who either made money under Libour's grotesque waste (cushy, overpaid, do nothing jobs) or simply cashed their shares in the good belief the market is going nowhere. The point is this money will run out at some point and when it does the market is going to fall big time.