SA’s property market’s soft landing nothing to fear - Seeff
SA’s property market is currently having a soft landing, which will put it in a strong position to spring forward from, reckoned top realtors.
“Given that almost a decade ago, we survived an interest rate of 25%, followed by eight years of an average of 15%, the current 12% is hardly cause for alarm, says Samuel Seeff, chairperson of Seeff Property.
To translate: "Keep buying! Please for the love of god keep buying!"
The most hilarious quote though is this:
Golding said residential property market analysts are closely watching the US market but contrary to expectations, there doesn’t seem to be a slide in the property market, despite rising interest rates.
Yeah the US property market is totally not in freefall at the moment.
1 comment:
The ratio between median houseprice and median salary in the USA is 5. In South Africa it is 18. That means that when we compare house prices to salary levels, SA is 3.5 times more over priced than the US. In fact, in comparison to income earned, we probably have the most expensive housing in the world.
The US house market is presently crashing ... why the heck should anyone think that SA house prices will continue to get even more expensive !
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