Saturday, January 24, 2009

Why FTBs should watch and wait

RENT 'CHEAPER FOR FIRST-TIME BUYER'

It is still cheaper for first-time buyers to rent a home than buy one, despite house prices falling by 16% in the past year, according to a study. Houses prices are at their lowest level for five years, relative to income, but the high mortgage rates levied on first-time buyers continue to price them out of the market, according to propertyfinder.com.

Posted by quiet guy @ 09:40 AM (787 views)
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One thought on “Why FTBs should watch and wait

  • For me, the fact that ….. ‘It is still cheaper for first-time buyers to rent a home than buy one’ is a good thing. When it becomes cheaper to buy, it means the renter is subsidising a BTL scumbag – or becoming a part of the % ‘yield’ . For years I’ve agued that the tax regime should insist that people who buy second homes, or BTL ‘portfolios’, should be made to pay the true price that this reduction of the ‘supply’ side of the housing equation, and the disproportiantly high cost it inflicts upon the housing market as a whole.
    If you want to be a landlord, it should cost…….it shouldn’t be free, with a wee bonus thrown in.

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