plainservice
Activist
Posts:139
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| 14/10/2009 10:26 AM |
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Has anyone bought their first home?
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barry37
Concerned Citizen
Posts:36
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| 20/10/2009 5:44 AM |
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I suspect you may find this sort of story in especially short supply at the moment. I have started looking again (I stopped in June because it appeared that my job security was very tenious, then last month we all got a 'stay of execution' till the end of 2010). I'm finding myself struggling to find anywhere modest but decent even with a large deposit.When I was looking in late Spring it was 99% a buyers market (even though sellers were still stubbonly holding out at near peak asking prices as I found out).
Unfortunately in the meantime there has been a raft supposedly good news, (good for who I wonder), which I suspect has entrenched sellers further into their 'I won't budge' mentality when offers are made. The result is a static market, with the exception of some cash rich buyers. Its my belief that once these cash rich buyers have run out we will eventually return to the same completely frozen market conditions we had about 6mths ago. Buyers don't have the finance/deposit/job security to buy at the ludicrous current prices. Sellers don't have to sell and therefore won't accept offers. Result - nobody buys their first home. Eventually something will have to budge - either finance frees up,some sales go through and in all likelihood prices rise again (unfortunately - I hope not though!) or finance remains an issue and eventually some sellers become forced sellers with prices falling. Until one or the other happens the market remains locked to FTBs and good news stories are as rare as Penny Blacks. |
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barry37
Concerned Citizen
Posts:36
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| 03/11/2009 5:14 AM |
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Any good news yet???............................................................................................................
...................................................................................................................................................Tumbleweed rolls across the desert............. |
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slicedcake
Activist
Posts:467
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| 08/11/2009 1:33 AM |
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Some of the proposed reforms of financial services look useful, but they will do no good until they are put into action.
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barry37
Concerned Citizen
Posts:36
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| 04/02/2010 1:40 AM |
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| Slicedcake, you make the classic mistake of relying on the government - they won't do anything to upset the applecart. As you say the reforms haven't been put into action yet and I wouldn't hold my breath. |
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slicedcake
Activist
Posts:467
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| 09/02/2010 11:06 AM |
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Yes, maybe I am too optimistic in expecting the goverment to improve matters, but who else can influence things in a major way.
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mary01
First Timer
Posts:1
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| 17/02/2010 12:53 AM |
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Yes.there are lot of good news stories,if you want to find, just go and search with different search engines available.
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uk mortgage
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slicedcake
Activist
Posts:467
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| 17/02/2010 12:04 PM |
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Mortgages for first time buyers look bad. High deposits etc. House prices are still too many times higher than typical incomes.
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jacob126
First Timer
Posts:1
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| 17/02/2010 11:24 PM |
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hey This
is a wonderful opinion. The things mentioned are unanimous and needs to be
appreciated by everyone. you have really so excellent idea . and i just want to know morw .
jacob
Mortgage Rates
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