heli_port
I can see some sense in your link. Its going to take some time though. Prices have certainly fell, but at that same time, deposits went up, so that has kept many first timers out of the market. Lenders are being more choosy who to lend to, so that keeps a few more out of the market. Those things needed to be done, but some more time has to pass before we see that real benefit being seen by the newcomers. As a side show, while the house price deflation continues to increase, it is a dissuader to buy something today that will be cheaper to buy tomorrow. As the market starts to bottom out, and no one knows where or when that may be, then the time will be ripe for the first time home buyers. I reckon a fall of upto 30% on summer 2008 may be near the bottom.
If anyone reading this is a wannabie, don't look at the tickers today, go to the pub instead.
