Daily Mail - Centre pages - 14/9/05

FaTB

djohn2002uk may yawn again, but I think this is a very interesting article, and makes a refreshing change from the usual mantras of :-

"Buy now before you miss the boat" -

"Buy now and your property will rise 50% in 3 months" and

"Rent is dead money"


http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=403668&in_page_id=57


If this discourages just one young family from comitting themselves to years of massive debt and worry, then its been worth posting this article.

meanmachine_2

Yes I saw that.

It's kinda common sense.

Never buy into a depreciating asset. It's a simple rule to live by.

Dutchgirl_2

Very interesting article.

It doesn't necessarily tell you not to buy at the moment, but that it depends on the area and region, your own situation and many other things. Sometimes you just want to choose to live in one place from the start when you move to a new city, rather than renting something. I think the main conclusion is that first-time buyers should try to do their research before they buy.

FaTB

meanmachine wrote:

Yes I saw that.

It's kinda common sense.

Never buy into a depreciating asset. It's a simple rule to live by.

Especially with borrowed money !!!

LouLouHelen

What about if your personal circumstances dictate the a move is unavoidable and you are not planning on moving again for a long while?????

meanmachine_2

Dutchgirl wrote:

Very interesting article.

It doesn't necessarily tell you not to buy at the moment, but that it depends on the area and region, your own situation and many other things. Sometimes you just want to choose to live in one place from the start when you move to a new city, rather than renting something. I think the main conclusion is that first-time buyers should try to do their research before they buy.

It's quite short sighted in that regard. For example, if tells you "BUY" in Wales, but doesn't explain why Wales has, of late, been rising yet London hasn't.

I always see London as leading the market, where other areas will inevitably follow.