UK house owners may face 4 more years of negative equity!

Some unwelcome news for those who bought property at the wrong time. I wonder how many TV show inspired wannabe property tycoons got caught out

"Homeowners who bought at the peak of the market may face four more years of negative equity, a housing group has warned.

The National Housing Federation (NHF) said the average buyer paid £216,800 for a home in 2007.

They may now have to wait until 2014 before prices recover enough to make their homes worth more than they paid..."
BBC News - Housing group gives four-year negative equity warning

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cheers Steve
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I feel really sorry for my younger friends in their 20's) who had saved like mad to get on the property ladder to find themselves in negative equity!

The one good thing about being older is it ain't going to happen to me anymore. I did my negative equity stint in the 80's!

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I can't imagine having to start now on the property treadmill, I remember wondering how on earth I'd pay £35k for a 3 bed semi just over 10 years ago, that same house apparently is now worth £180k, so I bet it went upto to about £220 during the boom. Its nuts.

Other than collapsing the market and putting all of us in negative equity, I've no idea what the answer is for future generations.

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Neg Equity is bad, but it is only a nightmare if you want to move. If you bought your house to actually live in and not as an investment then you just have to live there.

I can see the % of home owners going down and the rental market getting larger in the next few years.... opens up some business opportunities.

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I think your right, the rental market will get bigger.

No doubt we'll all end up with our kids as tenants

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NOOOOO!!!!
Right, off to open a saving account named "Give me my house back fund" - love her to bits but the thought of forever...........

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As long as they don't need to sell in the next several years, they should be ok.

Its like anything though: if you buy at the peak of the market, there is always a potential problem of the market taking a nose dive.

Over the long haul, real estate has traditionally been a solid investment for most persons.

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