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Mortgage one of SA's big headaches
Wednesday, December 12, 2007 (135 reads)
More than one in every two people worry that they won't be able to pay their debts, new research has revealed.
A poll carried out by Justmoney.co.za found that 28% of people say that 'not being able to pay my credit cards or other loans' is their biggest financial worry, whilst 26% cite 'not being able to pay my mortgage' as their biggest financial worry – a total of 54% of all respondents to the survey.
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Homeloan provider shut down
Tuesday, December 11, 2007 (150 reads)
Johannesburg - The National Credit Regulator (NCR) has obtained a temporary liquidation order against Rudco Finance Company.
The tribunal obtained the order on Thursday afternoon.
Speaking to Fin24, the NCR's advocate Jan Augustyn said that the court ordered that Rudco had until Wednesday January 16, to provide the court with reasons why the temporary liquidation shouldn't be made permanent.
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Black diamonds keep market healthy
Monday, December 10, 2007 (121 reads)
The emerging black middle class is keeping the South African residential property market vibrant in the price range of around R800k and below despite rising interest rates and building costs.
This trend was likely to continue for the next few years as this achiever sector of the population sought the best they could afford in housing, cars and lifestyle.
"There is no doubt that black middle class buying power - which is significant - will sustain the market in the price bracket of R800k and below for some time," says Russell Scorer, managing director of MaxProp.
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Property market's BEE struggle
Tuesday, December 04, 2007 (105 reads)
Jimmy Manyi says skilled blacks are overlooked by white business. The property industry would love to have so much choice.
Earlier in the year Commission for Employment Equity chairman Jimmy Manyi told Parliament's labour portfolio committee that the shortage of skills in South Africa was not as "chronic" as it had been made out to be and that the real difficulty lay in white-owned businesses overlooking skilled black people. He furthermore said that businesses bemoaned a lack of skills so as to justify their racially non-representative work teams
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Midrand now has buyer's market
Monday, December 03, 2007 (115 reads)
A buyer's property market has clearly emerged in Midrand - and requires a rethink by all stakeholders.
That's the word from local property expert and Homenet Midrand principal Beulah Thomas, who says the change is not entirely unwelcome after the euphoria of the recent boom, which created affordability issues for many potential buyers.
"The market is currently still ticking over steadily although volumes and buying patterns are being affected by the fact that some sellers are still on one asking-price level while buyers are on another. The market itself takes care of this in that correctly priced properties still sell while those that are overpriced, stick.
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