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Housing Ladder
The term property ladder—or housing ladder—, widely used in the United Kingdom, describes the relative differences in constant terms from cheaper to more expensive housing. According to this metaphor, an individual or a family can progress by stages from starter homes (for younger first-time buyers who are typically at the bottom of the property ladder) to move-up houses to more expensive houses that are at the top. "Getting on to the property ladder" is the process of buying one's first house and holding a place on the property market. The Oxford English Dictionary traces use of the phrase "property ladder" back to 1941 in the journal ''Eugenics''. See also *Real estate bubble * British property bubble *United States housing bubble The 2000s United States housing bubble or house price boom or 2000s housing cycle was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a Real-estate bubble, real es ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Starter Home
A starter home or starter house is a house that is usually the first which a person or family can afford to purchase, often using a combination of savings and Mortgage loan, mortgage financing. In the real estate industry the term commonly denotes small one- or two-bedroom houses, often older homes but sometimes low-cost new developments. The concept originated in the United States during the post-World War II era when entry-level owner-occupier, home ownership was a preferred option for young families and regarded as part of the American Dream. The original concept of a newly built starter home outside of the city has changed due to both the end of low-cost land development and the changing preferences of successive generations in the United States. Since the end of the 20th century, more new homeowners are seeking different kinds of housing such as a Condominium (living space), condominium or older existing homes. Changes in the 21st century In the United States, as real-esta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Time Buyer
A first-time buyer (FTB) is a potential house buyer who has not previously purchased a residential property. The term is primarily used in the British, Irish, Canadian, and U.S. property markets, as well as other countries. Characteristics A first-time buyer is usually desirable to a seller as they do not have to sell a property, and as such will not involve a housing chain. In the US, Canada, and Australia, the average age of first-time buyers is usually around their mid-30s, while in the UK it's between 25 and 34 years old. Decision to buy a home There are many factors a first-time buyer may need to consider before purchasing their first property; how much initial cash they will need for stamp duty and any solicitors fees, and if they need to arrange a mortgage how much are they able to afford. In many countries such as United Kingdom, Canada and Australia home ownership is seen as a natural step in the life cycle and the natural form of property tenure. Canada and Au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oxford English Dictionary
The ''Oxford English Dictionary'' (''OED'') is the principal historical dictionary of the English language, published by Oxford University Press (OUP), a University of Oxford publishing house. The dictionary, which published its first edition in 1884, traces the historical development of the English language, providing a comprehensive resource to scholars and academic researchers, and provides ongoing descriptions of English language usage in its variations around the world. In 1857, work first began on the dictionary, though the first edition was not published until 1884. It began to be published in unbound Serial (literature), fascicles as work continued on the project, under the name of ''A New English Dictionary on Historical Principles; Founded Mainly on the Materials Collected by The Philological Society''. In 1895, the title ''The Oxford English Dictionary'' was first used unofficially on the covers of the series, and in 1928 the full dictionary was republished in 10 b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Bubble
A real-estate bubble or property bubble (or housing bubble for Residential area, residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom or reduced interest rates. A land boom is a rapid increase in the market price of real property, such as housing, until they reach unsustainable levels and then decline. This period, during the run-up to the crash, is also known as froth. The questions of whether real estate bubbles can be identified and prevented, and whether they have broader macroeconomic significance, are answered differently by schools of economic thought, as detailed below. Bubbles in housing markets are more critical than stock market bubbles. Historically, Equity (finance), equity price busts occur on average every 13 years, last for 2.5 years, and result in about a 4 percent loss in Gross domestic product, GDP. Housing price busts are less frequent, but last nearly twice as lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Property Bubble
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories and Crown Dependencies. * British national identity, the characteristics of British people and culture * British English, the English language as spoken and written in United Kingdom of Great Britain and Northern Ireland and, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *People or things associated with: ** Great Britain, an island ** British Isles, an island group ** United Kingdom, a sovereign state ** British Empire, a historical global colonial empire ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) * British Raj, colonial India under the British Empire * British Hong Kong, colonial H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Housing Bubble
The 2000s United States housing bubble or house price boom or 2000s housing cycle was a sharp run up and subsequent collapse of house asset prices affecting over half of the U.S. states. In many regions a Real-estate bubble, real estate bubble, it was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. On December 30, 2008, the Case–Shiller index, Case–Shiller home price index reported the largest price drop in its history. The credit crisis resulting from the bursting of the housing bubble is an important cause of the Great Recession in the United States. Increased foreclosure rates in 2006–2007 among U.S. homeowners led to a Subprime mortgage crisis, crisis in August 2008 for the Subprime mortgage, subprime, Alt-A, collateralized debt obligation (CDO), mortgage loan, mortgage, Fixed income, credit, hedge fund, and foreign bank markets. In October 2007, Henry Paulson, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
