and thats just fine granted you have a big fat pool of cash that will allow you to both pay your mortgage and the rent on where you live in the mean time but most of us workaday joes cant really afford two properties
FWIW I think most people who buy homes end up paying way too much, resulting in the sort of situation you're describing, whereby the mortgage becomes an anchor.
I think it's worth seperating out homes being overpriced from the basic idea of renting vs buying. The UK has a completely broken housing market which makes the life of almost everyone who doesn't already own outright or have a devalued mortgage difficult no matter what they do.
this exactly, the system is utterly knackered, not only that but it feels like its constantly on the edge of a collapse so the few poor buggers who do manage to beat the system and buy something now may very well end up neck deep in negative equity if/when the bubble finally pops, im not sure thats a risk id want hanging over my head
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and thats just fine granted you have a big fat pool of cash that will allow you to both pay your mortgage and the rent on where you live in the mean time but most of us workaday joes cant really afford two properties
FWIW I think most people who buy homes end up paying way too much, resulting in the sort of situation you're describing, whereby the mortgage becomes an anchor.
I think it's worth seperating out homes being overpriced from the basic idea of renting vs buying. The UK has a completely broken housing market which makes the life of almost everyone who doesn't already own outright or have a devalued mortgage difficult no matter what they do.
this exactly, the system is utterly knackered, not only that but it feels like its constantly on the edge of a collapse so the few poor buggers who do manage to beat the system and buy something now may very well end up neck deep in negative equity if/when the bubble finally pops, im not sure thats a risk id want hanging over my head