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The Masked Tulip

A £1.1M Tuscan Villa On Sale For £242,000, Or Hundreds Of Flats For Just £50,000...

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A £1.1m Tuscan villa on sale for £242,000, or hundreds of flats for just £50,000... Should you snap up a cut price home in the sun?

http://www.dailymail...l#ixzz2bGoaMbxZ

Britain’s rock-bottom mortgage rates have helped an estimated 400,000 borrowers clear their home loans earlier than they thought.

As a result, an estimated 600,000 baby-boomers are eyeing up overseas bargains, says a report by banking giant HSBC.

The opposite reaction to them paying down their debt, is the forbearance policy has made it so non-owners and hopeful upsizers find it ever harder to afford baby-boomers home at the mid to higher end of the market.

Inflation outstripping incomes. Cash deposits that were being saved towards buying earning little interest to that end, and even being tapped into for living purposes.

Those 400,000 may have paid off mortgage debt under low-rates, but their homes are still subject to massive correction, Let them go for these foreign homes in the sun, and leverage their positions even further.

Their UK homes are only worth what people are able and willing to pay for them. Now they and the authorities are relying on the gurning reckless idiots willing to embrace HTB2 (demand outweighs supply so must always be HPI, small country ect) to keep their homes inflated in value.

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<pedantic>It's not a 1.1M Tuscan villa on sale at 242K. It's a Tuscan villa for sale at an asking price of 242K. Whether it turns out to be worth that is anyone's guess. It certainly isn't worth anything close to 1.1M though, otherwise it would be advertised for sale at that price.

</pedantic>

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