Friday, January 18, 2008

Reason for potential FTB’s to hold out

Sorting Out the New Housing Market

"The shape of the new American housing market — the post-bubble market — is starting to emerge. It is one that favors the young who never owned a house and the banks that have access to cheap deposits. It may be harshest on the two coasts, where both distress and a newfound lack of mobility may be on the increase."

Posted by richc @ 12:12 PM (1146 views)
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12 thoughts on “Reason for potential FTB’s to hold out

  • planning4acrash says:

    Ooo, yipee, they just described me!!

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  • P4AC

    You, young?

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  • Or does cynicism and grumpiness start developing at a younger stage these days?

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  • It describes me too! Perhaps p4ac is like me, born 40 😉

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  • planning4acrash says:

    I’m 27yrs young.

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  • planning4acrash says:

    Hense being a bit of a whipper snapper at times!

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  • Bubbles. . . . says:

    Do I wait???? I have my mortgage banks are still falling over themselves to offer money. My credit is good no debt and 24K deposit. Estate Agents ringing me all the time to view what do you offer 10% below asking price? 20%

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  • whippersnapper:

    someone who is unimportant but cheeky and presumptuous

    p4ac
    I wouldn’t describe your contributions as “unimportant” – not sure about the rest of the definition 🙂

    By the way, children young enough to be classed as infants regard anyone over 17 or 18 as “old”.

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  • Actually, I don’t see why it should just favour the young. Surely anyone who has sold to rent is in an even better position because they will be holding a large deposit!

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  • it_is_going_with_a_bang says:

    Surely the article implies that the US Housing Market is doomed unless FTB start buying …..

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  • I think it raises the issue of uncertainty. Buyers now cannot be certain they can sell their property when they need to move/upgrade. They cannot be certain that mortgage repayments won’t rocket beyond their ability to pay, and they cannot be certain that their property will retain its current value.

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  • eyeoftheweasel says:

    That’s right Su. Of course those things were never certainties anyway, the big difference now is that a lot more people realise they aren’t certainties.

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