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UK House Prices -The next bubble waiting to burst ??
daz2004 - Fri, 23 Dec 05 :
trying to figure out when or what will correct the property market is extremely difficult, enough so called experts get it wrong...however think it through how will the teenagers & younger generation in the 20's afford to buy a property when the average salary is 20-25k tops?
Take the emotion away and be logical, 10% are FTB's now, many are giving up all hope and resigned to rent for years, people are putting of having kids, simply on economic factors...think it through, if our kids can't buy properties then something has to give...we have years of stagnation & significant salary increases (which results in inflation and rising interest rates) or the prices drop (either quickly of 1-2yr period or slowly over 5-7yr period).
If the younger generation can't buy then in years to come whose going to buy the bigger more expensive houses off the elderly?
The whole property structure is a pyramid, if the bottom is weak then it affects the higher levels eventually...
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