A surge in sales of homes purchased within the past two or three years has analysts and agents concerned the property market is rolling over as mortgage stress bites.
Every time I see an article like “they paid 1.4 mil for a 1 mil property” I ask the question, how were they allowed to overpay that much? I’d actually argue they shouldn’t have been allowed to.
Every time I see an article like “they paid 1.4 mil for a 1 mil property” I ask the question, how were they allowed to overpay that much? I’d actually argue they shouldn’t have been allowed to.
Because at the time, everything was overpriced. Easy to make judgements with hindsight
They came in with 10% deposit that mum and dad helped with and in some cases mum and dad were the guarantors.
In a lot of cases they were spending mum and dad’s money too, or nepositism to a senior position at daddy’s work.