May 14, 2008

Just how bad is the housing market?

As if anyone needs to be told the housing market is suffering one of the worst slumps for almost thirty years, that is not to say that prices have fallen down to those prices or that they ever will. It is just that the confidence in someone or a couple to commit to paying off a mortgage over a period of twenty five years.

Who could blame them, as there is so much going on in the world that can have a direct effect on work, finances and indeed the value of property, which could be one of the reasons why people do not want to commit?

But the main reason would have to be that people these days are so unsure as to their own future, which is why they simply could not commit to paying off a mortgage because unlike their parents who knew that they had long term jobs, this sort of luxury does not exist anymore.

Source [Independent]
http://www.independent.co.uk/life-style/house-and-home/property/housing-market-worst-for-30-years-826989.html