Never been a better time to buy? REALLY?
Experts' tip: Now's the time to buy a house
If you are secure in your job and have enough money saved, now is the time to buy a house, say real estate experts. No one should try to pinpoint the bottom of the housing market and if the price is right, the timing is perfect, says BNZ chief economist Tony Alexander.
Has anyone ever noticed that those with a direct interest in the property market are ALWAYS saying it’s never been a better time to buy? Are you crazy? Property valuations have dropped by nearly 10% and they are predicted to plunge another 20% - only a moron would buy now with so much uncertainty in these turbulent overheated property markets. The reality is that we are on the property Titanic and we’ve hit a credit crunch iceberg. While the rest of us are scrambling for the lifeboats, the owners of the property Titanic are still trying to sell us on the ocean views.
The game is over, this economic meltdown is something that as a generation none of us have ever experienced. George Soros is right, Capitalism is dead.