 Over-optimistic buyers play a dangerous game
I read somewhere recently how some sellers who are unwilling to lower their prices, but who need to move, are choosing to rent out their homes for 6-12 months in the hope that things will improve in that time.
This is wishful thinking in the extreme. A Merrill Lynch report forecasts that it will be 20 years before the market reaches last year's highs in real terms.
GG - Do you NEED to buy when you move? If you could rethink things so that you are able to invest your deposit and rent instead, you might end up in a very strong buying position in the not too distant future. |