Want to buy a house? Wait three years

If, despite the obvious you are still thinking of buying an apartment or a house, and you’re in search of the best alternatives and the best price, our advice is without doubt: wait three years.

Why?

The Euribor will continue high. Despite a drop in interbank lending rates, the rate for calculating interest which are subject to mortgages, continue to rise, and it is believed that, at least for the remainder of the year, not lower than 5%. Without a restructuring of confidence in the financial system, money will remain expensive.

The banking crisis will peak in 2009. All done in macroeconomics takes nine months to affect the real economy. The credit crunch (due to which banks raising interest capitalized on all types of claims) may extend to the last part of 2009 and even 2010. Experts believe that inflation will decline only until 2011. Entoncs Only banks may be a liquid that will lower the price of mortgages.

The prices of flats will fall in two years. Although consumption has fallen by more than 40%, real estate agents refuse to lower prices. However, the contraction of its business, financial taxes, expenses and wear of the buildings, require a massive drop in prices could be around the 3rd% next year, and 50% for those same houses, apartments 3 years.