Homeowners looking for a quick house sale may be interested to hear that the proportion of people owning their own home may never return to its pre-recession peak.
That is the opinion of David Miles, a member of the Bank of England’s Monetary Policy Committee, who also told a conference in York that typical first-time buyers could soon be in their forties.
Mr Miles went on to suggest that the housing market has been transformed since the 2007 crash, adding that the changes may be a good thing in the longer term.
“I do not believe that the housing market and the mortgage market will get back to where we were in the years leading up to the crisis. I also do not think we should regret that,” he said.
December 3, 2011 at 9:00 am | Quick House Sale, Sell House Fast, Sell House Quickly, Sell My House Fast |
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