When will the UK house price correction bottom out?
The media is to blame for the current housing problems with it’s scaremongering about crashes and double dips etc.Homes in our area are selling at around the 2008 prices so not much of a crash as a levelling out of prices and no big increases.Nobody unless they are desperate is going to sell their home for less than they paid for it so talk of all these cheap properties and repossessions available don’t live in our area (lincolnshire) where properties were fairly low compared with the national average anyway. The only people in negative equity are those who bought using a 125% mortgage and borrowed through schemes that gave them their deposit as well which was financial suicide in a good market never mind a depressed one.
