FHBs Need To Work On Habits

In an article for the website The Adviser, Nick Bendel talks about the inclinations towards spending and borrowing manifest by the First Home Buyers. FHBs are going the ‘personal loans’ and ‘credit card’ way to conjure up the upfront costs.

Already, the average loan is high enough and if FHBs add personal loans and credit cards to the game, they are only going to make things tougher for themselves, asserts Bendel. It is no hidden fact that FHBs are having a tough time; what with them being elbowed out of the market by the investors and owner-occupiers. They also need to tone down their spending habits because at the moment they are spending a considerable part of their savings.

You can read the original article here.