Serious question

[DimPrawn]

As you may know I have a reasonable amount of cash, mostly sitting now in sterling in high interest () saving accounts, spread to limit the risk at £50K per account.

I've been waiting for the proper house price crash, you know, the one you would expect when the economy of a country is effectively bankrupt.

However, Brown and Co. are sticking with a policy of inflating bubbles with very low interest rates, printing money and forcing lenders to hold off on repossession and instead passing the burden of debt down the generations.

So, do I continue with my wait and hold strategy or buy the millionaire mansion now, before it's too late?

[sasguru]

The reason no one has replied is that they don't want to encourage your Walter Mitty fantasies.


HTH

[Moscow Mule]

As you may know I have a reasonable amount of cash, mostly sitting now in sterling in high interest () saving accounts, spread to limit the risk at £50K per account.

I've been waiting for the proper house price crash, you know, the one you would expect when the economy of a country is effectively bankrupt.

However, Brown and Co. are sticking with a policy of inflating bubbles with very low interest rates, printing money and forcing lenders to hold off on repossession and instead passing the burden of debt down the generations.

So, do I continue with my wait and hold strategy or buy the millionaire mansion now, before it's too late?

Why not buy a couple of little properties (up to half your cash?) and continue renting your primary home. Spread the risk a little?

[sasguru]

Indeed. otherwise just get that yacht in Nice,buy the Bentley and get a harem of Russian beauties. Then you can buy your mansion and a helicopter.
Why stop there? Get a football club while you're at it.

That's the beauty of imagination- you can do anything you want

[DimPrawn]

Why not buy a couple of little properties (up to half your cash?) and continue renting your primary home. Spread the risk a little?

It's all or nothing. I don't want to get back into BTL and investment property, I really just want the big house.

The real question is, is now the best time to buy or will 2010/2011 be the time when the cash buyer is king?

I just can't see property prices falling from here, can anyone?

[sasguru]

Your "house purchase" is getting as dull as "SKA news".

[DS23]

if you've been waiting for the bottom you're too late. unless you want to wait for the next bottom. opinion on that varies from hab (thisafternoon) to eo (next millennium).

[DimPrawn]

Your "house purchase" is getting as dull as "SKA news".

If it helps your sad little mind, imagine I am asking on behalf of a rich friend, whilst I live in a council flat on benefits.

HTH

[alreadypacked]

if you've been waiting for the bottom you're too late. unless you want to wait for the next bottom. opinion on that varies from hab (thisafternoon) to eo (next millennium).

WHS.

Printing money changes everything, no one know where this will end. Not even Gordon.

[BlackenedBiker]

If it helps your sad little mind, imagine I am asking on behalf of a rich friend, whilst I live in a council flat on benefits.

HTH

SG stop talking to yourself....