Thursday, June 11, 2015

Old people to blame

Housing market grinds to a halt as sales hit lowest level since 1978

"House prices could rise by a quarter in the next five years, a report predicts today after finding the number of homes for sale has fallen to its lowest level since records began in 1978." No mention of the role of ZIRP or govt props in nudging prices higher. This is purely a supply-demand dynamic, understood? Given the precarious state of the economy, not to mention the world financial system, is a 25% increase likely over the next five years, or is this yet more VI fluff? .

Posted by debtserf @ 09:55 AM (5845 views)
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4 thoughts on “Old people to blame

  • Good.

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  • First it was dual incomes, then it was gradually falling interest rates followed by lax lending, self cert and large multiples. Throw in the cult of the second home, BTL, and a big sprinkling of foreign investors and one way or another you can all pay more for the same.

    The financial system loves people paying more for the same.

    Unfortunately, most people can not now afford to pay more for the same.

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  • Older people won’t pay rip off stamp duty.

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  • Older people won’t pay rip off stamp duty.

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