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Like it or not the housing market is all about speculative investment
Not really true either, I don't think. Even though large numbers of people have been investing in the market speculatively , most of the houses they bought are still lived in. Ok, so there's a very, very small number of "buy-to-leave" properties kept empty — but even if these were all sold, my guess is that there would still be more people wanting to live in London than there are houses available for them.
Diamond_Supercool
hesa
Yes, go for it.
Beware of the risks but remember in the worst case you will still have somewhere to live. The only way to survive serious negative equity is to stay where you are, take in lodgers if you have to.
I can't agree with all your analysis.
Is not true. Like it or not the housing market is all about speculative investment. For a couple of decades now property has been the best place to store your wealth and get a better return than anywhere else. That has been overheated by £billions of foreign cash coming in, looking for somewhere to hide.
There is a slight risk of a big collapse, but in that case the government will have to do something to protect millions of people like you. And also to protect the banks that depend on your mortgage payments. So hang in there and don't panic.