Quote:
Originally Posted by jimeve  Are house & lot prices going up? Just curious. I mean in Metro Dumaguete,
maybe just internet price, I've lost 15% on my house in England over 12 months. USA have fallen more i think, oh well its only money. |
I also lost 15% on my house in England in May 2008. (Went on sale Oct 2007 for 275k, sold for 235k.) Since then, same house type is now selling for 210k, a further drop of 8%. Another in the same street went for 184k. I forecast the total drop from 275k to be 40% before things start climbing. If you have an offer and need the dosh, take it.
The statistics in the papers and on the news are not the reality. Ordinary peep's UK house prices are plunging.
Japan's house prices have halved during the last year, so I read.
UK house prices will fall until first-time-buyers (FTB) can get a mortage. Young FTB on 30k p/a can only get 90-100k mortgage, so what does that tell you? Until the FTB can move in, the second-time-buyer can't move out.
