Tuesday, July 8, 2008
£10,000 for a house. That’s more like it!
"In the US, people are finding fair and good deals that suit them. The sales numbers show that people's psyche is beginning to turn, albeit spurred on by low prices. The number of low-end sales has doubled in the past year, with houses offered at a staggering sub-$20,000 (£10,000) being the most popular. One house price was so low the purchaser used a credit card to buy it. People are seeing houses priced at 55pc of the value they were previously, with a $600,000 home now costing $325,000. Mortgage banks are becoming increasingly keen to rid themselves of such properties."