Article from this week...
http://www.independent.co.uk/money/mortgages/a-million-frozen-out-of-mortgage-market-1805609.html
On the housing debate....
If I've got this correct theres 10 million homes with a mortgage and 26 million homes in the UK. This is hardly a situation where everyone is struggling with payments and many will have reasonable/affordable situations..
Given that banks and building societies have tightened up lending to the point where they should have been in the first place then its going to be a long time before theres any noticable increase in house prices...if any.??
Theres always demand for houses as everyone dreams of a bigger and better place but if you can't borrow the money then something has to give. Three times salary isn't going to buy many people a home and that seems to be the general rule..??
It doesn't matter if theres a million people admiring your home you'll not sell it if they can't or won't borrow the money...
Lets see if the chart below plays out...
http://forum.globalhousepricecrash.com/index.php?act=attach&type=post&id=4222
http://www.independent.co.uk/money/mortgages/a-million-frozen-out-of-mortgage-market-1805609.html
On the housing debate....
If I've got this correct theres 10 million homes with a mortgage and 26 million homes in the UK. This is hardly a situation where everyone is struggling with payments and many will have reasonable/affordable situations..
Given that banks and building societies have tightened up lending to the point where they should have been in the first place then its going to be a long time before theres any noticable increase in house prices...if any.??
Theres always demand for houses as everyone dreams of a bigger and better place but if you can't borrow the money then something has to give. Three times salary isn't going to buy many people a home and that seems to be the general rule..??
It doesn't matter if theres a million people admiring your home you'll not sell it if they can't or won't borrow the money...
Lets see if the chart below plays out...
http://forum.globalhousepricecrash.com/index.php?act=attach&type=post&id=4222