Can buy, won't buy..

wolfman

Dan: wrote: »

Now that America is backing the 700bn bailout - at least you lot will be able to get a mortgage now.

$700 billion is under 5% of the US's GDP, so it's a big figure by itself, but looking at the larger picture it's just a small fraction. I think that's why a lot of people are dubious about it.

hethmar

Whilst I can understand people hanging back - there will come a point when no one is selling either and there will be a stalemate situation. I think it will be easy for people to miss "the bottom" if they get too wary.

Jonesya

hethmar wrote: »

there will come a point when no one is selling either and there will be a stalemate situation.

There will always be some forced sales - disposal of property following death of the owner, repossessions etc. These sales will occur regardless of the market price.

Chris2685

I plan on waiting until house prices are reasonable. Not neccesarily the very bottom, I don't want to end up trying to buy when everyone else is again, but just enough so that we can afford a decent home and pay it comfortably on a 20 year mortgage. For now I plan on renting for a couple of years and seeing what everything looks like then.