Are house prices high where you live?
@butterflygirl (498)
January 20, 2007 12:09pm CST
I've recently purchased a house in the UK with my partner. Although we put a deposit towards our home, and got what we consider to be a bargain, we have still ended up with a mortgage of over £100,000. Over the last 5 years house prices in the UK have rocketed, pricing many first time buyers out of the market. As mylot has users from all over the world, I am curious to know what house prices are like where you live? Are they stupidly high or are you fortunate enough to live somewhere where house prices are reasonably low? If they are high, do you think that they will eventually have to come down because few people will be able to afford them?
2 responses
@shobejen (644)
• Philippines
20 Jan 07
for a foreigner, i think they would consider it cheap... but for locals like me, it's kinda expensive... i live near the central business district so the property value is high, my family only rent since we can't afford to buy our own... most of the developers in our area are building condominiums, it is hard to find someone selling or developing house and lot...
1 person likes this
@butterflygirl (498)
•
21 Jan 07
Thank you for your response. It seems like house prices are rapidly on the increase all over the world. We were very lucky to just be able to afford our own home, it was a tight squeeze but we wanted to get on the property ladder before we were priced out of the market. I really hope that the perfect home for you comes along soon.
@jmcafam (2890)
• United States
20 Jan 07
Prices for homes in the US are crazy.Where I live most homes go for over $200,000. That is on the very low end. It is hard to even find a decent home at that price. I hope that it will one day lower alittle but I just don't see it happening.Well, congrats on your home.
1 person likes this
@butterflygirl (498)
•
21 Jan 07
Thanks for your response. I'm relived to hear that it's not just us in the UK that are feeling the pinch with house prices. Our house was at the cheaper end of the market, we also have many houses that are selling for over £200,000, it'scary!
