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ask the agent.

Byline: Derek Abbott

by Derek Abbott FRICS of Hollier Browne Chartered Surveyors (members of TEAM) QIS there really a housing crisis? AI SUPPOSE, to an extent, the answer to your question depends on how you define a crisis.

It could certainly be argued, for example, that in these relatively comfortable times we tend to use the term a little too readily.

Of course, I am not in any sense seeking to downplay the very real difficulties that some individuals and families may currently be facing.

But the fact is that we love to blow these things out of proportion.

Politicians likewise - either in order to blame it all on the other party, or to make themselves look like saviours of the nation when they come up with the solution.

So, negative equity is routinely described as a "nightmare," while people are said to be "trapped" in their current property.

But is it? And are they? After all, negative equity doesn't matter at all if you look on your property as a home, to be lived in for the foreseeable future.

Similarly, how many of those described as trapped really need to move - for example, because a change of circumstances means they can no longer afford the mortgage, or because of work? How many of them, on the other hand, are frustrated because they aren't currently in a position to exercise what they think of as their right to take the next step up the property ladder?
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Publication:Birmingham Mail (England)
Date:Feb 20, 2013
Words:246
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