Thursday, September 23, 2010
Common Sense
What first-time buyers really need is lower house prices
Stepek points out the elephant in the room plus some commentary about the FSA's recent efforts. "it's been a great week for people who like the idea of paying more money for their clothes and food. Cotton hit a new high, at a time when retailers are already warning of rising clothing prices. And of course, we've all heard about surging grain prices. Does that sound daft? It is. But it makes no more sense to cheer rising shelter costs than it does to be pleased about rising food or clothing prices. And yet, we still can't seem to get our heads around the idea that falling house prices might actually be a good thing."
Posted by quiet guy @ 01:02 PM (1261 views)
One thought on “Common Sense”
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uncle tom says:
Pretty much on the ball, and a nice demolition of the CML’s recent whinge..
..note that August’s lending figures were the lowest for ten years, when house prices were less than half their current level – so relative to property value, probably the lowest August data ever..
– Rising house prices are soooo yesterday….