House Price Increases Are Not Positive in the Long Run

Thu, 05 Aug 2010

Reports of house prices increasing 5.3 per cent on the same period in 2009 could be a sign of future problems.

Increase in house prices are a sign of a shortage of homes as opposed to a sign of economic recovery, within a climate of rising unemployment, lower wages and minimal home building.

Low interest rates and lender tolerance are not going to last forever.

Given the public sector job cuts and UK Government mortgage support schemes cuts, there will be many more thousands of families struggling to meet mortgage payments and many more repossessions and homeless people are going to be the case.

A new approach for housing is vital to help sustain economic recovery. This approach ought to place long-term affordability for homeowners and tenants at the fore and consider housing as provision of homes where individuals can thrive, as opposed to vehicles for investment .

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