Hello all, I have been lurking on the forum for ages now, and its time to come out!!!
ITV news are today repeating recently printed articles stating that FTB's are priced out of 92% of UK towns, and that FTB numbers are the lowest for 23 years.
So, my question is, what does this predict for the future of the housing market?
Someone whom now owns a FTB property, and wants to move up "to the next rung" cant, cause they cant shift the FTB property - no FTb's! And hence the same up the chain!
ITV news interviewed various people about this. And no one talked of a crash. Some guezzer from the "Fablan Society" talked about "Supply and demand" in terms of the housing market. This gentleman talked about increasing Supply in order to provide more affordable housing. What i noticed is that he missed the point of "Demand!"
Now if FTB's are priced out, then surely your "Demand" has been automatically been killed off?
I will love for any bulls to provide a solution to this above problem. Cause the only solution i can see is reducing the price of FTB's buyer properities to re create the demand, and hence restore the market.
Any comments???