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The biggest problem buyers have is NOT prices 💰 The banks aren't lending them as much money
Manage episode 343003737 series 2813057
I said this 6 months ago, and now it’s official 🗞️
The rate of increase in interest rates is overtaking the rate of decline in property prices.
In this current real estate market, buyers have roughly a 25% decrease in borrowing capacity (all other things being equal).
The biggest problem buyers have right now is not the price of the property - it’s that the bank is not lending them the same amount of money they previously would have approved.
My Clearance Rate over the long weekend: 4/8 SOLD (50%)
286 episodes
Manage episode 343003737 series 2813057
I said this 6 months ago, and now it’s official 🗞️
The rate of increase in interest rates is overtaking the rate of decline in property prices.
In this current real estate market, buyers have roughly a 25% decrease in borrowing capacity (all other things being equal).
The biggest problem buyers have right now is not the price of the property - it’s that the bank is not lending them the same amount of money they previously would have approved.
My Clearance Rate over the long weekend: 4/8 SOLD (50%)
286 episodes
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