The house price problem that's crippling the market
House prices are falling, yet optimism among property sellers is peaking. Robert Powell finds out why...
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After the crash we were house buying and shown a house by an estate agent and while being shown around we asked why the price was still high, the agent said that the seller could not sell for a lower price as it would put them in negative equity. Naturally we bought another house, why would anyone with a sound financial mind buy into a property and put themselves into instant negative equity? You'd have to be an idiot.
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rentals in the Northwest are the same as they were 8 years ago!! there is a glut of apartments in city centre manchester due to over building and redevelopment where many landlord is probably running at a loss to stay above water. This is complete marketing spin by desperate people, reality is so so different.
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It might help if "gazumping" or whatever it's called is illegal. And Buyers have to pay a deposit to secure the property, and sellers are not allowed to pull out, unless it's a compelling reason. It won't be fair for both parties otherwise.
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31 October 2011