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@walm
I apologise to all of the forum for omitting the obvious fact that when you own the home you are taking a massive punt on the price of your house.
That is a significant difference to renting of course.
All I am trying to explain is that INTEREST = RENT in that both are a necessary evil that is effectively a cost of living.
If you think house prices are going down then paying RENT rather than owning an paying INTEREST is a very good way to avoid the RISK OF HOUSE PRICE COLLAPSE.
You aren't throwing money away by renting you are PAYING THE PRICE OF HAVING SOMEWHERE TO LIVE.
Trust me, when you come to want to move - you are going to give MANY shits about house prices.
Negative equity and no other savings = no move.
Equity in the house destroyed by falling prices and more stringent deposit requirements from the banks = no move.