And they'll be back up there before long as inflation ravages the land. Interest rates are a proxy for mortgage rates. Which for many people are now over 7%. There aren't ANY two year fixed rate products under 7% at the moment. And that is 7% on a loan that is three times what it needed to be when Gordon Brown stood on the steps of Number 11 and proclaimed no return to boom & bust.
Well we've certainly had to boom. Ooh, and this must feel a bit like a bust for this chap:
£175,000 flat I bought last year is now worth less than £100,000: Owner's negative equity horror | Mail Online
£175,000 flat I bought last year is now worth less than £100,000: Owner's negative equity horror
Changing fortune: Maurice Conroy outside his studio flat in central London, which has plummeted in value
A property investor who bought a flat for £175,000 at the height of the housing boom has ended up in a negative equity nightmare after its value nosedived by almost 50 per cent.
Maurice Conroy, who owns a string of buy-to-let flats, bought the studio in central London last summer. But he has just had it valued by three agents who told him it would now only sell for between £80,000 and £100,000.
He is one of a growing number of..
Unemployment is a total fiddle as we have 2.7 million scroungers on disability allowance.
If we are so short of housing you'd better let the house builder Barratt (laid off
900 workers this week) and TaylorWimpey (laid off
1000 workers this week) know that they've terribly misread the market...
I'm not helping this thread am I?
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