any young ones looking to buy property??, page-31

kincela - i grew up on a farm in ireland which was owned by my parents. most of the houses and property in ireland at the time would have been owned outright with no major debt so all was good. then came along the next generation which wanted increased wealth and the wave of buying investment property came along to fufill the need for wealth creation and the need to house the enormous amounts of migrants permitted to enter due to the opening of the boarders by the E.U.
All was good till the global financal crisis hit and all migrants left to hunt for work in other countrys - as migrants do they follow the work. leaving a lot of people with very large mortgages on propertys that where to be honest worthless with no rent and even if sold would not cover the debt.

the point unless you have a plan or a very good idea on what your doing it may be better for some people to rent.
As we read in the papers every week and see on the news the amount of first time buyers are under severe mortgage stress.
i believe if you cant afford repayments on the mortgage if it goes to 10% on investment propertys dont bother.
long term if the rates keep rising there will be more propertys for sale and eventually the market will become saturated dropping the prices down at which time the amount of people looking to rent will increase and outstrip availabilty thus rents will increase dramatically at which point this will start sending the house prices up again - this is my long term view