Housing market report

Author: graeme

Date: August 6, 2007

by graeme
8-06-07
All UK news sources:
House prices continue to skyrocket, surpassing all expectations. Yippee!!!
The biggest purchase most people will ever make just got even more expensive! But it's not all smiles, as one investor points out.
"As a buy-to-letter, it's sickening that I have to compete with all these first-time buyers snapping up the most affordable flats. We can hardly afford our holiday homes!"
Some have reacted with alarm and anger that the government plans to build more affordable housing for first-time buyers, which could make house prices dip slightly.
The PM responded "It's OK. I said 'affordable', not 'cheaper'. The young will still be ripped off just the same, but over a longer period of time! Don't tell them!"
Oh, I see, with longer mortgages and shared ownership and so on. Phew, that's a relief. I thought he was on their side for a moment!