Is it possible to retire with 300k?

thor

shrexxy wrote: »

according to this house prices in this area don't seem to be going down, there still is a general upward trend. Although i am still being very wary of investing houses i do think its still a good idea to invest when the market has stabilized probably in a few years time.

There is no reason to assume house prices will stabilise in a few years. We could easily have a period where prices stay in the doldrums indefinitley.
Net mortgage lending was only £143m in August. This is only 5% of what it was the previous month. That is a massive fall and there are no signs it will get better. If in your prices are rising then that is all the more reason to lay off buying as it is very unlikely that you will be immune to the chaos happening everywhere else in the world.
Over the last 4 or 5 years I have watched in amazement as banks and building societies lent many times people's salaries and held with bated breath for the fall. It is here now and I am sticking with my prediction that in a year or two time prices will have crashed. They won't go down as a gentle correction like the so called 'experts' want us to believe they will do but I reckon they will plummet to 1990 levels or worse. A 75% reduction. Houses were only in demand due to speculators and the buy to let brigade. With prices falling this lot will vanish and everyone else will make do by not thinking that a house of your own is a must just because they are told so.