June 5, 2008
Getting priced out of buying a home
Despite the so called credit crunch, there are literally thousand of first time buyers waiting to find their dream home. This you would think, sort of goes against the current trend.
However, according to a recent report by Professor Steve Wilcox, of the University of York, there are around twenty five per cent of these first time buyers who are not actually capable of affording even the lowest priced property on the market.
This has to be the most serious problem within the housing sector, there are people who want the product and yet there is a gap between what they can afford to pay and the lowest price that a home owner is prepared to allow the property to be sold for.
Source [Telegraph]
http://www.telegraph.co.uk/news/uknews/2071469/One-in-four-can’t-afford-to-buy-first-property.html
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