Homeowners sell up and rent to escape stress
http://www.iolproperty.co.za/roller/news/entry/homeowners_sell_up_and_rent
And 51 percent of those selling homes because of financial stress exited the home ownership market and moved into rented premises, according to the second quarter FNB estate agent home-buying survey.
Economic and financial stress and general pessimism has shot to the top of the list of key factors influencing the near-term expectations of estate agents, with 31 percent of agents citing this as a key issue.
This is where you might be able to find property at great prices. Homeowners under financial stress need to sell as fast as possible, and some will accept lower offers as long as their outstanding bonds are covered by the sale price.
