Tuesday, March 3, 2009
No More Investment In Property
Concerns mount over investors sitting in cash
Property is no longer a viable investment! Are we FINALLY getting the message ? We are not awaiting a RECOVERY there will be no more BIG rushes on property and First Time Buyers ARE NOT BEING LEFT BEHIND but moving towards a time of sensible lending and affordability. What good news to see that investors ARE NO LONGER INTERESTED IN PROPERTY. Sensible lending has returned, 85% LTV and no more than 3.25 loan to wages and this is not just a short term solution but a way of trying to reduce the 190% increase in property prices fueled by irresponsible lending. It will take the UK 30 years to pay back the debt incurred in just a few short years and 5 million people + will be stuck in negative equity, but FINALLY the investors can see at least that property is no longer a good investment.
Posted by kathryn layard @ 09:53 AM (703 views)
4 thoughts on “No More Investment In Property”
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mark wadsworth says:
Glorious. First rule of surviving a depression – cash is king.
jackas says:
Wonderful if its true.
Hopefully the days of someone earning half my salary being able outbid me on a home simply because they don’t understand leverage have gone.
Long live the saver.
techieman says:
“Biggs added that the fundamental issue is the 0.9 per cent savings ratio in the UK, which is significantly less other European countries where the savings ratio is on average 13 per cent.”
So what does the government do to encourage people to save? Erm lower the rates…. is that the right answer?
So we created a consumer boom but being heavily indebted and spending all our money and now we are reigning in that spending and trying to save some … but thats wrong how very dare we! We obviously should be borrowing more to perpetuate an unsustainable economy (if it werent unsustainable we would have a decent saving ratio).
techieman says:
Talking of which…..http://www.elliottwave.com/freeupdates/archives/2009/03/02/Dow-Falls-300-and-Buries-the-Real-News.aspx