Some one made a comment in a thread that with rates being so low , it could be cheaper to buy than rent .
mmmm
This becomes another factor to drive the market up.
People see prices going up so they rush to get into the market .
If prices go up a bit , it may not be cheaper to buy than rent " but it's not much more " and with the increasing price , that in itself becomes a justification to pay a bit more so you don't end up paying even more . Around this stage , the mainstream media ( outside the property / business pages ) start talking about the property boom and .......
I remember the boom in the late 80 ( I wasn't in it and missed out ) but there was a massive rush to get in so you didn't miss out .
Any other thoughts on what will be happening in the minds of the buyers over the next years to come ?
Cliff
mmmm
This becomes another factor to drive the market up.
People see prices going up so they rush to get into the market .
If prices go up a bit , it may not be cheaper to buy than rent " but it's not much more " and with the increasing price , that in itself becomes a justification to pay a bit more so you don't end up paying even more . Around this stage , the mainstream media ( outside the property / business pages ) start talking about the property boom and .......
I remember the boom in the late 80 ( I wasn't in it and missed out ) but there was a massive rush to get in so you didn't miss out .
Any other thoughts on what will be happening in the minds of the buyers over the next years to come ?
Cliff