Classics: Real estate: access to property, a dream undermined by the increase in interest rates

When Will Used Car Prices Go Down?

  When Will Used Car Prices Go Down? It isn't news to anyone who has shopped for a used car in 2022: The price of used cars has soared to record highs. According to the U.S. Bureau of Labor Statistics, its used car index, which tracks used car prices, has risen by 42% from December 2019 to October 2022. The free-market used car arena is built on the foundation that sellers can sell cars for the maximum amount buyers will pay. At this point, buyers are showing willingness and ability to pay astronomical prices. Used car prices shot from the first to the tenth floor like an elevator. They're likely to descend like an escalator, and a very shallow one at that. They may never reach the ground floor again.

is a wish that many French people share: buying property. But to achieve this, the trajectory is more complicated than before. This is in any case what the ninth barometer Buy or rent revealed by Bestaux.com, relayed by Le Parisien , Tuesday September 6, 2022. Thus, in 2022, you must keep your property about 14 years for having a main residence becomes more profitable than its rental. For comparison, in 2020, it was necessary to count only 4 years and 4 months on average. "We are clearly at a turning point," comments Maël Bernier, spokesperson for best. X Resisting its real estate purchase

This barometer, created for the 32 largest cities in France will thus consider an

apartment of 70m2, by moderating on the data of the market of each city and the hypotheses of evolution of the market in these. "The big change this year that explains this reversal of trend is the rise in borrowing rates," decrypts Maël Bernier. With, in parallel, prices that have continued their increase in many medium -sized in full swing cities from the Covid. In 2014 and 2015, the rates were higher but the prices lower and the prospects for larger rise. "In addition, the price of rents has remained more or less the same" with more and more cities like Paris, Lille or Lyon which set up a supervision of their evolution. Thus, it will take more time to make its real estate purchase profitable. Reading

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Rental real estate investment: How to get optimal loan conditions? Some cities nevertheless manage to get out of it, like Nîmes (Gard), Reims (Marne), or finally Limoges (Haute-Vienne). Others, conversely, see the duration of detention necessary so as not to be (too) losing lengthening. Our colleagues cite in this sense Rennes, Lille or Rouen. Again, in Orléans (Loiret), where the price per square meter increased by almost 300 euros in one year, the time necessary to make their purchase profitable compared to the rental has gone from two years to 18 years in one year. It’s even worse in Bordeaux (20) and Nantes (28 years old). "The more we are in big cities, the longer you have to keep your very time to make the purchase profitable," analyzes Maël Bernier.

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But then, why does Angers (Maine-et-Loire) occupy first place in the ranking? "This is the case of school of COVID par excellence, with many people who came to settle and prices that increased by 16 % in 2020 and 20 % in 2021," she adds. From now on, you have to hold your property for 28 years for the purchase to be more profitable than rental in the Angevin city. So is the dream of access to the property finished? Not necessarily. "Buying when you are in working life is guaranteeing to have a roof in the event of a drop in income, when you are unemployed or retired," said Maël Bernier. And to conclude: "And even if the rental can be less expensive, at the end, the day you leave your accommodation, you have nothing!

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Real estate: access to property, a dream undermined by the increase in interest rates appeared first on Better Living your money .

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