March 26, 2008
A drop on property values needed
It seem to be a crazy thing to be talking about but there is some data that is speculating that there could a serious drop in property values which could be as much as fifty per cent, unless there is some drastic action taken within the next year or so.
Should the property market continues as it has been doing, then it is believed that there could be a property crash, something of the likes that has not been seen for some forty years. This problem is looming because house sellers and agents are holding out for high prices, where they hope that buyers will give in and pay up.
But eventually something will have to give, house buyers are increasingly low on the ground and with mortgages potentially becoming tougher to obtain. As they are unable or in some cases unwilling to step up to the mark, this is the problem facing the sellers do they drop slightly now or run the risk of losing out?
Source [Function Pix]
http://functionpix.com/index.php/article/UK_Property_prices_must_drop_10_-_15_now_to_avoid_a_50_crash_later_-_RICS/1729/
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