homerenter Posted December 20, 2011 Share Posted December 20, 2011 ING says homeowners are overvaluing thier houses... http://www.ezonomics.com/videos/the_mistake_of_not_giving_up/ -- Quote Link to comment Share on other sites More sharing options...
NEO72 Posted December 20, 2011 Share Posted December 20, 2011 Makes sense. I think the typical psychology of buyers goes something like this: A few years ago, they see a house. It would 'tick all the boxes' if it weren't for X Y and Z. They think: "well we can put up with X, Y and Z" - after all, at least we'll be on the ladder/won't miss the boat/(insert cliche of your choice here) - we won't be here long and besides we can use the equity we'll obviously accrue from rising prices to put a deposit on our next place. Roll forward a few years and by then they've got used to X, Y and Z - call it reducing cognitive disonance if you like - but have forgotten just how offputting those flaws were originally...and price accordingly... Quote Link to comment Share on other sites More sharing options...
freshie Posted December 21, 2011 Share Posted December 21, 2011 They are too busy spending the equity in their dreams to listen to the sensible offers being made - with EA's providing emporers new clothes to deluded sellers and resolute forebearance of banks supported by government (our) lolly, and hanging on to repo stocks, it will go on and on. Good try ING but dont lets pretend its just stupid sellers - Banks are holding on to repo's with offers of less than 10% of asking price - change that and the sellers will jump into line PDQ. Quote Link to comment Share on other sites More sharing options...
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