Saturday, January 2, 2010

What shortage?

One in ten consider selling homes

More than one in 10 homeowners would consider selling their home and renting after seeing house prices dive during the past two years. But 13% of people who rent a home said they stilled hoped to buy a place of their own and they had not been put off by the house price correction.

Posted by mander @ 12:01 AM (2382 views)
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5 thoughts on “What shortage?

  • But 31% of those who would consider selling their home and moving back into rented accommodation said they could not do so at the moment because the sale price they would get for their property was too low

    Methinks the other 69% are just in denial that they are already in nequity. They think the sale price they would get for their property should be high enough, but it won’t be …

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  • mark wadsworth says:

    Although I am a big fan of liberalising planning laws and building more social housing, if truth be told this is a second best solution. What we really need to do is encourage efficient use of existing housing and residential areas via Land Value Tax (which could and should replace a shedload of other taxes…)

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  • markj69 str05 says:

    @MW… Regarding ‘LaVaTa’, ‘could and should’ just doesn’t quite meet the mark. ‘WILL’, is what’s required, so we don’t end up with this aswell as a ‘Shedload of other taxes…’ It won’t happen though.

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  • But in terms of numbers if we have two thirds homeowners and one third renting, 10 % of two thirds will surpass 13% of the one third renting. So houses put on sale must go to investors not to the families from those 13% and the banks need to make sure that that happens to keep the shortage myth alive.

    Investing is good but not for buying already built homes as I think it is being used to manipulate the demand and supply.

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  • “which could and should replace a shedload of other taxes”

    Wouldn’t that be nice, but it would counter the obfuscation of their grabbing.

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