I wonder how the housing market will progress this year, with first time buyers unable to get on the ladder, banks not having the funds to meet all mortgage demands. House prices dropping for the fourth month in a row, and mortgage defaulters growing monthly.
This with the news that people are finding it hard to sell and move up the ladder, and banks that were making Billions last year are now asking for assistance with cash flow this year.
Dropping interest rate will only fuel the rise in house prices, making buying houses even more out of reach to more people.
Is the situation we are in at the moment with houses and the abilty to buy houses, along with the claw back in the amount of credit available to the public....... ever happened on this scale before..? and is it set to get worse ..?
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