Discussing :: Revitalizing the Private Mortgage Market: 'Skin in the Game' and the Consequences for Future Homebuyers

By mid-May, the spring home-selling season is usually in full swing. Homes look their best, and buyers rush to lock in deals so they can relocate in the summer. But this year, things are not so good. Despite low home prices, sales are sluggish as the market struggles to recover from the burst bubble of the past decade. Many potential buyers are scared off by worries that a home bought this spring could be worth less a few months later, given that prices have fallen by more than 8% over the past 12 months, according to Zillow.com. Others are eager to buy at today's low prices, but cannot get a mortgage because lenders have tightened standards to... read full article


Revitalizing the Private Mortgage Market: 'Skin in the Game' and the Consequences for Future Homebuyers

I think it's getting harder and harder for families to own thier own home. Even if houses do come down in price, the price of everday living is going up so much everyday, petrol and even groceries. $20 worth of groceries last week now costs $25 this week. I have all but given up my dream of owning my own home, as long as my children are happy, healthy and with a good meal in front of them then Im happy.



I have noticed alot more mortgagee sales around but havent noticed prices coming down in the housing market in Wellington. I think for me to get a descent house I would need to win lotto. Everyday living expenses keep climbing, house prices climbing, insurance going up - the only thing not going up is my pay lol. Another factor of not only worrying about if you buy a house the value might fall in the next few months, there is also the worry of buying a leaky home - so it seems like there are three times the amount of people looking at the old houses than the newer ones. So old houses which I thought might be in my price range are way out of my range.



Great article esp since we are looking at purchasing our first home soon.



The NZ Mortgage market is different and thankfully our position isn't quite as bad as that in the USA. Still, reading about a $2US trillion outstanding mortgage deficit does make our own little mortgage seem a lot easier to manage! I guess the upshot is that homeowning works for those of us who like working on and improving our patch of land and house, and for others, the rental market actually works better. Unfortunately in NZ the obsession is with home-ownership so the benefits of renting are never truly realised.



have just started looking into buying my first house, so this was a good read! thanks



I find it depressing that in the future most "kiwis" will not be able to own their own home - how things have changed since the 1/4 acre section and every family had a home of their own....My partner and I are resigned to the fact that unless we win lotto the dream of owning our own home is just basically too far out of reach...sooooo instead we are planning on living our live with our kids to the fullest and enjoying each day and everything that it brings - instead of worrying about materialist things...including a house - we just make the rental house we are in our own little "home" with our little family the best we can :-)



The documentary the 'Inside Job' explained the financial crisis really well, taking you through how it started, mortgage bonds and securities in a really clear and straightforward way. Well worth a watch, and narrated by Matt Damon too! Wall Street needs to be held accountable and stringently regulated to ensure the same thing doesn't happen in the future.



its soo true that its harder and harder to be able to afford a house... seems renting is our only option!!



It is tough and obviously not just for us kiwis.



It's shocking, the condition in the Private Mortgage Market. The http://www.mortgagecomparison.space/ mentioned of very few limited options available are there.


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