Thursday, June 25, 2009
Affordability is the problem in the UK housing market!
"The problem in the UK housing market is affordability â€“ or the lack of it. We are nowhere near the levels where the market can start to resuscitate. The Nationwide Building Society's first-time buyer affordability index, which measures initial home loan payments as a percentage of take-home pay, is still five years away from a market trough if the last housing downturn is anything to go by."