Monday, August 3, 2009
Can those who bought at the top afford to wait?
Homeowners may be stuck in negative equity for five years, according to a new report, which says house prices will rise 20% by 2014. The property market's steep fall since its 2007 peak means those who bought then will have homes worth less than mortgages until well into the next decade. The National Housing Federation (NHF) study suggests prices will continue to fall then start to recover slowly in 2011.