The prices of homes are continuously rising and rising. It is getting to a point where young people are having a really hard time saving for a down payment on a new home. It is seriously getting to that point as young people have enough debt to worry about from an early age in life. If the home prices were to crash again, it could be an excellent buying opportunity for the people who have a lot of money on the sideline.
Key Takeaways:
- The prices of the homes all over the world have been rising and rising at a steady rate.
- If there were to be a massive fall off, then it would be difficult for people to recover.
- The people who have a lot of money on the sidelines hope for this to happen because then they will invest.
“The impact of a 35% slump would be felt a lot greater in many Northern towns, where house price growth hasn’t been so rapid over the past decade. For example, a 35% drop in Blackpool, would see average prices crumble from £103,920 to £66,890, a level that hasn’t been seen since March 2003. While in Durham and Newcastle averages prices would drop back to June 2003 levels.”