29 March 2005

In the Market for a House - Offer them $50,000 less

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The CT has this story on the drop in the Canberra property market. The question is have they put out this story to tell people to offer $50,000 less or in order to try and get people back into buying property by saying how much cheaper it is now?

I like this bit

First-home buyers were looking for homes in the vicinity of $350,000, although some had saved their money during the property boom and now could afford up to $400,000.

So they are telling first home buyers that they should expect to pay $400,000 instead of $350,000

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Well in the case of the pair of you, do you think it cuold be because a bank won’t mortgage what you haven’t got?

Nor is it in mine. Just though it sounded good.

Last I checked there was nothing about my bank having a right to my soul in any of my mortgage documents

No they are not. They are saying thatr ion some areas of canberra, the price has dropped by $50k, The sentence you have selected is merely a statment saying how much ppl have saved up and what they can afford if they sell their souls to a bank.

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