leanderman
Street Party: July 2
You're very right. I was just saying this to my fiancée. I'm very torn having bought this flat. We bought not at all thinking of the value increasing, but because we were lucky enough to be in the right place at the right time and able to scrape together 5%, and because the rent at our previous place kept going up up up. We could see that we were going to have to move anyway and thought it was a great opportunity for security. But as much as it's scary having put all our savings into this place, I recognise that this market is totally unsustainable and I see the effects it's having on friends of mine. Friends who actually make decent money, want to start families but can't even afford to be a one bed flat. It's so scary.
No one is winning.
In fact, we may all be losing - because money that should be directed toward productive investment or, dare I say it, consumption, is spent on bonkers mortgages