Opportunity knocks – if you have the liquidity
Cash, they say, is king and no more so than now! The housing market is probably the most obvious place to find value now if you have the liquidity to take advantage of the conditions. There are few buyers, mortgage availability is at the worst for decades and sellers are faced with tough decisions; reduce prices or stay? Many are staying, further slowing the market. A cash buyer now can capitalise and there are bargains (with bargaining) especially when the seller really must move.
What is the risk? Anticipating a further drop in prices can be negotiated into a deal and so the liquid buyer who can wait a few years for a return on their money is in a strong position.
September 18, 2008 at 10:53 am
You have a point, for years we have been told that property is a good but risky investment, and that a surefire safe investment is putting you money into a big banking establishment and take the small but steady growth. All change this week
we might as well take a chance on low property prices because it is just as much a risk to put all your eggs into HBOS, Lehmans, and other supposeedly secure banks.