Saturday, March 15, 2008
Not everybody is bearish just yet
Here's a counter-argument to the usual HPC news that we post here. Anybody care to demolish these arguments? "In January Paragon reported that rents were rising at their fastest rate on record - up 19% in 2007 and 8% in the last quarter alone. --- Demand from students and immigrants remains strong, and first-time buyers who fear a crash (or are no longer eligible for a competitive mortgage deal) are renting instead. --- Due to the credit crunch, repossessions are on the up, which means there is greater potential to snap up a bargain, especially at a property auction. --- The buy-to-let boom is probably not quite over yet. In a few years' time, I expect some investors will still be wringing their hands with glee, rather than despair."