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House Price Crash Forum

Finally Bought

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Well it's finally happened. After 10 years renting we've sold out and bought a place. The timing is mainly due to our dropping another sprog in a few months, and the fact that renting is no longer a particularly attractive option. With the deposit we've saved up over the years we're in a position where our mortgage interest is appreciably lower than the rent.

The market round here (NW Leeds) has some way still to fall I believe, judging from P-E ratios. Ex-council houses are seeing quite major falls, however in general houses with asking prices set a little more keenly are going fairly quickly. It's an odd situation; my guess is that we'll see a further gradual decline over several years as I can't see where the money's going to come from to start another boom.

Well, it's been a fun few years on HPC. I've probably spent too much time on here, but it's been a great source of information and advice, especially when we were swimming against the tide. I think a fair few people have been saved from making bad financial decisions as a result. It's just a pity they weren't bankers or the government.

I guess I'll not be on here as much, but I'll still keep checking up on y'all now and again.


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