Is now the right time to buy a house?

[Mich the Tester]

As the government would be thrown out if house prices collapsed, you can bet your last pound they'll not be allowed to drop in value, if not in real terms. Economy would be shafted if house prices dropped 30% as a lot of plebs would be in negative equity and I believe lots would walk. Imagine the storm if house prices went down 30% and interest base rate up to 5%. Big issues for the economy and for bank.

However, it is a curiously english thing to look at making money on houses. If it is going to be a detached game changer, e.g. family home that you'll stay in for years, just buy it, put your head down for 10 years and pay it off.

That or as someone else said. Get a lovely house/flat in a lovely area, get it paid off and disappear to somewhere cheap, like Laos, Cambodia and enjoy life.

Tonga Real Estate

[Sysman]

But that said, id put up with it another year if I thought it would save me £50k. Like someone said I have made the decision I wanna get out, the question is when the best timing is.

You could easilay find that in 2 years time there's nothing on the market that takes your fancy.

Or that your current area deteriorates so you get less for your current place.

[KentPhilip]

As the government would be thrown out if house prices collapsed, you can bet your last pound they'll not be allowed to drop in value, if not in real terms.

House prices collapsed in 1992, yet the tories were re-elected.

[moggy]

House prices collapsed in 1992, yet the tories were re-elected.

they were up against neil kinnock and he seemed to snatch defeat from a certain victory - much the same as DC.