Baby Boomers Were More Financially Responsible

BobQ

guitarman001 wrote: »

I want to own at some point because once the mortgage goes out of the window, that's the biggest cost goone and will give larger flexibility later in life (work part-time etc). I wouldn't care two hoots if I bought and the 'value' of my home dropped 90%, honestly I wouldn't. And if it meant the rest of the population could get on with their lives, the faster the crash the better.

Market values will change as the markets dictate. However, if they fell 90% only some of the population would get on with their lives. Those who wanted to move house for employment purposes would be in negative equity and prevented from doing so; those wanting to move into a care home would require state help to afford it; those who had used property to fund a pension annuity would suffer too. Of course all of this may happen by market forces.