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Danger Lurks For First-time Buyers

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But rather than pointing out that houses are overpriced, they choose a different message.

The message is clear: save, beg or borrow for a bigger deposit

Does anyone else apart from the few people here ever consider that now is NOT the time to buy your first box house

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i think there are a few groups

some who are earning good money and think they have job security seem happy to take on the debt, often interest only. for some they wil get through their lives without redundancy/ divorce etc and will see it through. others will be casualties

a second group cant or wont pay the money and realise it is a bad time to buy and are sitting on the sidelines.

another group know instinctively it is not the time ot buy, but have been worn down by the people who say prices will always stay high. they are resigned to paying stupid valuations.

the market i think has turned and will continue to deteriorate as the relative sizes of these groupings changes

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the market is being shouted up in the big world by those who have already got their mortgage..

Be it a recent interest only that they struggle with..

Or an older repaymet that they cope with..

None of them are contributing at all toward the market.

the market needs money going in..

and I don't see people doing that and shouting about it.

eventually you are going to run out of people who are paying todays prices..

and if you think your not close to that point..

Its all good..

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  • 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%

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