Jump to content
House Price Crash Forum
Sign in to follow this  
BandWagon

The Slide Begins In South Africa

Recommended Posts

From Moneyweb...

http://www.moneyweb.co.za/property/505429.htm

Du Toit added that sellers would have to accept lower prices or hold on to their properties and wait for the market to turn.

That may turn out to be a very long wait.

But great to see a VI talking the market down.

Mortgage rates in SA are currently around 10%, this is the lowest level in many years.

(The Reserve Bank rate is 7%, SA commercial banks operate on very hefty profit margins)

In 1998 interest rates hit 25%. The currency is about as stable as the Turkish Lira.

Still want to buy an "investment" property in a country where the deputy Prime Minister thinks Zimababwe has a model land redistribution policy?

And there are still stupid people out there paying UK prices...

Edited by BandWagon

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.