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.
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.
Because at the time, everything was overpriced. Easy to make judgements with hindsight