As the credit crunch intensifies and house prices drop
through the floor along with our currency I'm starting
to see more vacant houses on my way to and from work.
The property pages advertise more and more properties
that have "no chain" or "agent has keys".
Some houses are empty because the occupier has died,
or the owner has given up on renting and is trying
to cash their house in before prices really hit
the bottom, but quite a lot are repossessions.
I feel sorry that someone is unable to pay their
mortgage and has their house taken away from them
but at the same time I've been living in rented
accommodation for the past 10 years because I
couldn't afford to buy a house near my job.
A conservative estimate puts UK house prices falling
10% per annum for the next two years. Various other
bodies have suggested that a up to a 50% price reduction
is required to bring house prices back in line
with incomes. I don't mind how much they fall specifically
but a sizeable reduction would cheer me up no end.
posted 22:04 ::
/stuff/house ::
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