Where will the property market be in 3 years time ?

February 27th, 2010 | by admin |

I have seen two property corrections in my lifetime, 1972 and 1989. Everything is cyclical and I feel we are due for another bumpy ride.
This government has encouraged rampant houseprice inflation to a point where my kids, who have full time work with large PLC’s, cannot afford to purchase their first house.
Economic prosperity has to be earned, not given away. Our debt levels in this country are enourmous. Property prices have crashed in Japan, America, Spain and France etc. We cannot remain aloof from a global downsize.
Tax the buy to let brigade who borrowed excessively against rising prices to finance their expansion and tax the second home owners.
These high prices do no one any good.

I work for an estate agency and i think that the property market is due for a slump. Already house prices are starting to fall and there are so many houses on the market and no buyers due to the rise in inflation. I wouldnt want to be buying or selling at the moment and i think the buy to let market is going to get a nasty shock sooner rather than later

  1. 5 Responses to “Where will the property market be in 3 years time ?”

  2. By barn owl on Feb 27, 2010 | Reply

    only time will tell
    References :

  3. By Clare S on Feb 27, 2010 | Reply

    I work for an estate agency and i think that the property market is due for a slump. Already house prices are starting to fall and there are so many houses on the market and no buyers due to the rise in inflation. I wouldnt want to be buying or selling at the moment and i think the buy to let market is going to get a nasty shock sooner rather than later
    References :

  4. By nipper on Feb 27, 2010 | Reply

    Straight line it from 1950 till today. There is no better investment.

    However, if you are trying to break into the market, there is no better time than today.
    References :

  5. By anaise on Feb 27, 2010 | Reply

    Also, blame the slump in the housing market on builders. This is what is leading lots of first time buyers in foreclosure. The builder will make a deal where he is paying for the interest for the first 2-3 years. (the ARM). Then the first-time buyer thinks he is getting a good deal with such a grand price and monthly cost. NOPE. Then the first time buyer gets the sock-in-the-face of a life time with a high interest rate tagged onto the bill.
    References :

  6. By TheMom on Feb 27, 2010 | Reply

    I own more then just a second home and pay plenty of taxes there buddy! You are correct, we are in for a ride, but most people will not even be effected. Your kids will be able to buy a home, just one they can afford, not their bosses house.

    Taxing people will make the situation worse, not solve anything.

    Apparently you have been around as long as I have. Therefore you have seen times where our government bled us dry and threw tons of money at the same problems we still have. Tossing money at problems does not help anything.
    References :

Post a Comment