FTB's vs interest rate rises

darex said:

The concern as a FTB is that the market may rise another 10% at least before leveling out. Note leveling out not falling. While leveling out has to happen falling is not garaunteed - see the UK, some small falls but not enough to justify not having bought until very late on the price rise upslope.

Click to expand...

the uk market is still precarious-lowest number of first time buyers in 35 years ,low numbers of sales completed which can distort average prices,many areas in uk were down 5-12% last year add in inflation and its even more, outside of london not much is rising,it remaisn to be seen if they level off and rise slowly especially with signs uk economy may beslowing with gnp growth down to 2% or nearly same level as europe

What surprises me is that affordability amongst FTB's doesn't really seem to be an issue. Now obviously people aren't over the moon with having to pay 400K for a 2 bed apartment but this hasn't stopped them. The average age of FTB's is at it's lowest level ever. Even with rising interest rates I don't hear many FTB's crying into their cornflakes.

Is there a possibility that poverty, or indeed not being rich, is such a bad word nowadays that people can't admit it. I can't believe that. Maybe everyone IS loaded these days.