The housing market - next 20-50 years

[XMT]

Hi.

I am looking to buy my first home and I know I might sound a little crazy but when will this madness end.
If I'm wrong in my thinking then please correct it.

People already struggle to afford to buy a place across the country never mind just London. Every article I have read talks about an average 6-10% value increase per year. Is this always going to be the case?

What does this mean for the younger generation or our children's children?

It's just complete an utter madness.
Someone please explain.

Everything I have read (I am in Scotland) it's only going to get worse!

Edited by XMT on Saturday 4th February 22:23

[XMT]

So what your saying is, being in Scotland I should stop moaning lol lol

[XMT]

Prohibiting said:

Aren't we due a house crash this year similar to 08?

I'd be interested to hear opinions on this

[XMT]

rdjohn said:

I think that the simple answer is a question.

Are you likely to need a roof over your head for the next 20-50 years?

So, if the answer is YES, then you have the opportunity to buy a high value asset with high leverage via a mortgage.

Alternatively, you can pay someone else a dividend for their investment.

I bought my first house in 1972 when Gazumping had only just been invented. I have lost count of the number of predicted crashes that have occurred during the last 45 years, I have only switched house 4-times, but I have always had a roof over my head and come up smelling of roses, in the fullness of time. I have used its collateral to start businesses and secure cheap loans.

Whilst demand greatly exceeds supply of quality properties, nothing is likely to change massively "in the long term".

So your only real concern is location, location, location.

Yes but where does this end? Surely it's just not possible for it to always go up and up and up. How is anyone meant to get into the property ladder then?