Monday, January 14, 2008
Reality check for Rosie Millard
it’s not just speculators who are worried. It’s everyone. We have known nothing other than the phenomenon of using our home as a convenient cash cow. When we first bought property, in the early- to mid1990s, everything was at the bottom of the previous cycle. For the past decade, or longer, life has gone as follows: buy something. Watch it go up in value. Laugh. Remortgage and spend the cash on another property, or a roof extension, or school fees, or a holiday in Mauritius. Now all that has changed. But everything eventually bounces back, and if you don’t mind doing without an annual holiday in Barbados, what the property market does should only bother those who have to move house.