Thread: WTF is goin on!
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Old 01-07-2008, 09:14 PM   #18 (permalink)
Django
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The problem you have GD is not that people will not want to buy your business. Its more a case of the financial houses won't lend the money in order for someone to buy it. Its the problem everyone has at the moment trying to sell up and move downunder. Buyers are unable to get mortgages unless they can put down a large deposit. This deposit will come from them selling their house. But no one can buy their house because no one will give them the mortgage to do it unless they have a large deposit and so on down the chain. This goes back to the first time buyer that cannot get a mortgage full stop. Well not unless they have been saving for years.

In short unless the banks start lending money (which they are not willing to do at the moment) then we are all up $**t creek without the proverbial paddle.

Pete
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