Stories | October 30, 2012

Four mortgage market myth busters

Buying a home is the biggest financial decision many people will ever make – so don’t be duped by myths that circulate.

The ING International Survey (IIS) on Homes and Mortgages examined responses from more than 15,000 people polled in 15 countries about where they live and how they pay for it.

Here are four myths busted by the IIS results.

Myth: House prices never fall
Fact: 30% of people in Europe recognise that property prices can go down.

Myth: Falls in property prices put people off buying a home
Fact: Even though property prices fell in the last five years, 73% of Europeans still think it’s better to buy than to rent. After all, emotion plays a big role in home buying.

Myth: Young people are much more likely to think homes are expensive
Fact: Age is almost irrelevant – under 25s are almost as likely as older age groups to say houses are expensive.

Myth: You’re on your own when you want to buy a home
Fact: 40% of homeowners in Europe got financial help from family or friends when buying their home.

Click here to view the PDF.

eZonomics team
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House buyingMortgageHouse pricesRenting

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