There are still people like me, wishing to buy! 🙂
I’m going to have a look at a few properties this weekend. They’ve had 40% knocked off their original “fantasy” prices and I’ll try to get them to knock another 10% off one of them if I like what I see. Only then might I start to think I’m paying a reasonable price for it.
From an investment point of view it’ll probably still suck though. Even if I rented it out for a few months in the summer, by the time the agent has taken their cut I won’t be getting much income, and I’ll have an asset that won’t increase in value any time soon, and which is very hard to liquidate. The only thing that might convince me is if it’s somewhere we’d like to spend significant time over the following years. A second home. However in these uncertain times I have serious difficulty in convincing myself that I can risk such luxuries.
I’m sure I’m not the only potential buyer with such thoughts right now, and I’m fortunate that I don’t have to contend with the exchange rate!
The exchange rate is the one thing stopping me from buying now,if i had put my pounds into euro’s when i decided to start looking at buying a place in spain those properties that have dropped 40% would seem like a bargin compared to 2007 when i started to look and go to different areas to see where i wanted to buy.i am buying for lifestyle and not investment but because i didn’t change my money back then it is a regret i may have to live with or should i just drop to my knees and pray the pound starts to rise