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Property-To Buy Or Not To Buy-That Is The Question

Interested in buying a house right now?

“They’re back!  The creeps, the snake-oil salesmen and spoofers who condemned a generation to negative equity, are cheerleading again.

Buying a house now makes absolutely no economic, financial or social sense because prices are condemned to fall much further and anyone who buys now will be suckered into the false rally, known as a ‘dead cat bounce’. Given what we now know about the boom, it’s hard to feel sorry for someone who believes the hype-property brigade. But even a cursory glance at the financial numbers today — just a little bit of due diligence — suggests that we have a long, long way to go before house prices reach the bottom. So beware, see through the glossy brochures and don’t say you weren’t warned . . . again.”

Click here to read the full text of advice on this subject given by economist and broadcaster David McWilliams. It makes for very interesting reading and he has got it right before.

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