Owning your own home

Yes, lock in to a longer term fix now if you’re worried and hope for a recovery before that expires.

That’s the other thing- we’re all assuming that there will be a recovery. Today might be the best it’s going to be for the next 30 years.

can anyone recommend a relatively pain-free poison?

Except either it won’t be your gaff because you’ll have missed it, or it will be your gaff and It won’t be any £££ because you’re not trying to sell it.

Your boundless optimism about the future never fails to amuse me.

Like I said, I would like to be selfish for once and have the market crash just for 6 months so I can buy with a 'discount', then it can go up or down again I don't care. I just want somewhere to live.

Am I being selfish?

No, it’s capitalism, Maggie would be proud of you.

Your boundless optimism about the future never fails to amuse me.

You say optimism, I say realism, and never the twain shall meet.

Exactly my plan. I have enough LTV to get a 5 year fixed at 1.89% with current lender, am due to renegotiate in the next month so hoping the rates don't rise before then (although 0.25% is hardly the end of the world).

Could you have used a better example?

or it will be your gaff and It won’t be any £££ because you’re not trying to sell it.

tell that to the people who bought BTC at £15k. Of course they won't try to sell it now. And yes, they can't live in it.

But what if they had to sell it?

Also, there is the possibility that the home buyer in question could just wait and see what happens, and I think there's a good possibility that they will do that and be able to either buy a more awesome place for the same money or buy the place in question for much less money.

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or by the place in question for much less money.

I reckon Soul might get the place he's after for <500k next year.

I'd have Maggie back then, please...

Everyone with half a brain cell should have been preparing, not for brexit because that was a black swan event, but for the inevitable economic cycle to complete it's loop, which I suspect it will do in the next year or two.

Ive been aggressively paying down our mortgage for the past 5 years and got it down from 225 in 2012 to 85k today. I don't earn a particularly high salary for London , but we nearly got seriously shafted at the tail end of the last recession with the wife getting made redundant. That was no fun. She changed careers to become a teacher from a solicitor and earns 20k odd less than she did before. For some people that 20k would have been the difference between keeping their house or having to sell it.

What do you do to do that?
That's 140k in 6 years?
20k a year?
1.5 ish a month?

Is that overblown paying by how much?

Yeh I overpay between 1-2k a month and have done for some time. It means I have very little in savings and a £300 car though.

I’m not sure you can compare a house to Bitcoin unless you’ve ‘invested’ in either.

Waiting might work but you’re assuming nothing except house prices changes (housing supply, interest rates, income, mortgage criteria, etc). Probably better to just get on with your life, move on and forget about trying to time things perfectly.

That's good advice for general conditions, but we're approaching a potential crisis - we are, by automatic operation of law, going to sever all existing trade, legal and regulatory ties with the rest of the world.

I feel rather like Cassandra.

He’s off again.

Probably better to just get on with your life, move on and forget about trying to time things perfectly.

We talked about going into rented to 'short' the housing market. In the end it seemed like pie in the sky thinking based on the assumption that we can magically predict what is about to happen. and also we couldn't be fucked.

Might all turn out OK.

I'll sell you lot tins of beans for £10/can in April 2019, just you see if I don't.