Why do some first time buyers pay ludicrous prices for property, when prices are expected to crash?
June 30th, 2010 by
According to the IMF, Ernst and Young, and the Office for National Statistics, house prices are still considerably overvalued. Given that prices rose from £57k in 1997 to £198k in 2007, and have only fallen to £161k despite rising unemployment and tightening lending criteria, why are FTB’s even considering paying such absurd amounts for property [...]
