May 15, 2008

Is the housing market that bad?

Whatever the current state of the property market is, or rather what we are all being told. Maybe it is not as bad as some people may fear. Yes there are not many first time buyers, mortgage lender are getting tough and the property prices are falling slightly, but it that all?

For the property market to get really bad, we would be seeing more and more people being unable to pay off their mortgages, granted there are a lot of repossessions being carried out, but the process takes a long time, these may have stopped paying their mortgage six months or more ago.

For someone who is planning to stay put for the next few years and pay their mortgage as agreed, then there are few points that may help you:

Our Economy’s In Better Shape
We’ve Speculated Less (And Borrowed Better)
The Future’s Bright

Is the property market as bad as everyone says it is?

Source [Fool]

http://www.fool.co.uk/news/property-home/2008/05/13/is-there-still-hope-for-house-prices.aspx?source=ioowfeml0040012