Saturday, December 8, 2007
Flat prices collapsing to half price.
Its been well versed they are building too many flats and a liverpool flat sold at auction for 50% of its bought price does not bode well for flat owners. The flat had been advertised nearly 2 months previously. Is this the start of a crash? Well we aren't talking about a small drop here its a massive drop on the buy price. If you add on inflation since it was first bought the drop is even worse. Is this the new year sales come early? Well it was bound to happen. The commentator on BBC news north west attempted to put a spin on it by saying there was another similal flat in the bulding at twice the price...however it was empty and up for sale. Bet you all the owners are sweating at the moment.