can propertries get more expensive, if people cant afford to get mortgage for them?
Tuesday, November 2nd, 2010 at
8:57 pm
in eastern europe property prices were up 150% over last 2 years (after joining EU). People take 30-40 year mortgages to buy, but can barely afford a studio flat. And I mean people who are well educated and earning well. And mortgage interest rate is very low now. What will happen now ?
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Tagged with: 40 Year Mortgages • Mortgage Interest Rate • Mortgage Rate
Filed under: flat mortgage
If people can’t afford to pay the increasing prices, homes for sale will become stale on the market. Sellers who need to, or desperately want to sell will then be forced to reduce their prices in order to move on with their lives.