BearBum

'A huge rise in devorces has led to less people/household which also reduces availability' Unfortunately very true! I'm recently divorced & my re-discovered social life is full of divorced/single people. It's frightening how common divorce is becoming & will only get worse.

I'm 46 (recently divorced) & was resigned to the fact that I couldn't afford a decent place of my own taking into account maintenance payments etc. etc. I have however kept looking & have just found & bought a small 2 bed house that is perfect for me. Stone, end terrace with original beamed ceiling etc. Loads of character & in a picturesque rural village nr Durham. The only downside for me, is there is no parking immediately outside the house but I am prepared to sacrifice that. Basically, I've bought the place for 76k which means I have had to take out a mortgage of 20k over 20 years. I do think prices will drop at some stage but I loved this little place as soon as I saw it & to be honest, can't imagine losing a huge amount on it. if at all. I don't intend moving for a long time anyway. Basically, what I'm saying is just keep looking & it is just possible you might find something affordable & that you actually like but It is tough & depressing at the moment I know.

Unlike the last boom/bust of the 80’s/90’s, you’ve got so much more information available to tap into these days thanks to the internet. Use this information & come to your own conclusion. It’s frustrating & worrying to have to wait & guess at what’s going to happen but imo all the signs are pointing towards an imminent downturn…but at the end of the day it’s your money & your decision. Good luck.

I reckon if you've found a place you really like and you think you'll be ok with the financial implications, then you're doing the right thing for you. Just be aware of how you may feel if there is a crash & people you know are buying similar properties for thousands less than you paid. It's a tough one but best of luck whatever you decide to do.

A big hello to everyone. Unfortunately, like many people nowadays, I have recently gone through a divorce. It's possibly not the situation I would have imagined myself being in 20 years ago but I guess that's life & you have to move on. I left a good sized 4 bed detached with my ex-wife & kids & moved back with my parents until I get sorted (45 & back living with parents...ok you can stop laughing now). Actually it's not all bad, I miss my kids terribly, but see them every week & I have rediscovered a full & exciting social life (Salsa being one of my new found talents...I recommend this to anyone single)! If I could only get my own place, I would feel a lot more settled & ready to get on with the rest of my life. Ok, I admit I'm not as badly off as a lot of people, as I've got a reasonable deposit & don't need a huge place, but with the current state of the housing market, I can't bear to throw it away on the crap that I am seeing for sale. Like many people, I occasionally get panic attacks about prices going up further & being priced out completely but deep down common sense tells me to hang back & wait. Whether or not this is a mistake only time will tell. Of course there's always the chance I could meet a loaded divorcee at one of my Salsa classes! I don't consider myself an intellectual person, but I'm certainly not thick & I'm very impressed with level of knowledge certain people have on this forum. Quite often, the more complex, economic stuff goes completely over my head but generally I can absorb the 'gist' of what's being discussed & I've surprised myself at how informed & up-to-speed I am on current housing matters...all thanks to this site & others like it. I feel deeply sorry for young people these days, how on earth they are expected to afford a reasonable property to bring up a family these days is beyond me! Likewise I know I am going feel sorry for anyone who has panicked, stretched themselves & bought an overvalued property recently (because they genuinely felt they needed to) only to find themselves in negative equity & debt if (or when) the house price correction occurs. It's a sad state of affairs.