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Debate House Prices
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Interest Rates to remain rock bottom ...
MrRee_2
Posts: 2,389 Forumite
........... for, at least, 2 more years!!
The Federal Reserve has said it does not now expect to raise interest rates until late 2014.
The really smart will buy a property now and clear the mortgage within 8 years.
Those who hesitate will look back on these golden days and sigh ... these are times for the brave, the intelligent, the winner!
Rejoice!!
The Federal Reserve has said it does not now expect to raise interest rates until late 2014.
The really smart will buy a property now and clear the mortgage within 8 years.
Those who hesitate will look back on these golden days and sigh ... these are times for the brave, the intelligent, the winner!
Rejoice!!
Bringing Happiness where there is Gloom!
0
Comments
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Have we been handed over to the Federal Resever now?0
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Great. More good news that the global economy is in a seriously sh*t state.0
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No but you may like to compare UK vs US base rates over the past 10 years.Graham_Devon wrote: »Have we been handed over to the Federal Resever now?0 -
Its almost too late. they should have bagged a bargain when prices bottomed out years ago, instead, they have seen prices climb slowly since around 2010, their cash has been devalued by inflation and they are now facing increased borrowing costs, higher LTVs, bigger arrangement fees and longer to pay off the mortgage.
Its not going to get better until the SLS is paid off and the banks are no longer concerned about eurozone debt writedowns. So, no improvement in lending till around 2015! Its only going to get worse or stay the same till then, whilst the housing market will stay stagnant.
In a way, housing is a good hedge against inflation imho, as the interest rates are so low and you arent taxed to the same rate on gains as you are bank interest.
4 years saving, house purchase for 325K, valued now at 400k after extensive work, mortgage payments under 900 on a capital repayment basis over 25 years. You would be crazy not to buy!
If I were a buyer with big deposit, I would be looking to buy soon, if not now.0
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