The Organization Consumers and Users (OCU ) has released a report that says it is not good time to buy a dwelling, basically arguing that housing prices will continue falling hard in the coming months. The report said that a stock of about 700,000 to 1,000,000 unsold homes, though as is usual in this kind of reporting, no study shows that throws these data, if said encrypted INE stock a few months ago in a scant 600,000 units, the official orthodoxy that at least wants to be a million, it has become very fashionable to attack as the real estate sector, although this will ruin thousands of English families and go to ruin our economy national.
Another fact that stands out is the demand of housing units per year, OCU the figure at 200,000 units. Interestingly last year 2010, strong economic crisis and credit crunch, have sold over 490,000 units . It is also stated that demand will not grow based on the regression of the migration flow that we have now and due to the lack of building homes. First, despite the economic situation of our economy, official data planned for the coming years in terms of reception of immigrants show a continued rise if growth rates well below those of the past ten years. Moreover, not creating homes, far from damaging the home sales figures, is an advantage to reduce the stock, (though, focusing on homes and apartments of less than 60m2), as people single or separated households is twice that a family once lived where two under one roof, are now living two different roofs.
As the purchasing power of the English, remember that currently the relationship between the average gross wage and housing price * has fallen compared to 2005, when the housing market enjoyed excellent health. Again, despite the obvious crisis, it continues to omit that from the professional associations of industry is demanding without attention: sales have stalled in such an extreme form of the absolute restriction of credit to the buyer . But as we have said, it is always easier to blame the employer to the credit institutions.
also said in that report that to the deduction for first-time home purchase is a problem for buyers, and we have referred to the limited impact of this measure **, and in any case , what will be a problem in the medium and long-term buyers is rising interest rates and therefore increased Euribor and its impact on the monthly mortgage. On the other hand, is totally false that banks will continue to hamper access to credit for the buyer, since starting this year will begin to reopen the claim, often 100% of property valuation *** , something that did not happen for years.
is not understood, ultimately, the continued efforts of associations and think tanks to hit real estate sector with our positions bearish extreme. At the moment, so far this year, and although the price data in the first quarter will not be very positive, within twelve months, with significantly higher Euribor and a stock of houses and very small, not more beneficial to purchase a home then do it now . It is good time to buy.
MBQ Group
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