Obviously from my posts I support the ownership of property.
When I first started buying after a messy divorce it was very hard and it did seem expensive, some 15 years later I have a few properties, PPOR fully owned and gearing of around 30-40% on the others.
Property would have to fall significantly for me to pick up another, mainly for the reason that I have enough property for my family's needs and security. Also, whilst I think it is a good long term investment, the current prices do seem high and on a risk reward basis I choose not to take the risk.
The accumulated equity and the low gearing creates a situation where the rises and falls just don't really matter.
All our circumstances are so unique it makes decisions so, well...unique.
If I was starting out again in the current climate I would be considering buying but I would be very, very cautious. A couple of years ago my advice would have been to go for it, gear up and enjoy the ride.
The reality is that those that took the risks years ago are sitting back not really interested too much in what happens.
Will the current crop starting out be in the same position in 5 or so years? I think yes, but not to the same degree.
I have not sold any property for a while so any gains are just on paper, but they are significant (in my view) and provide the comfort not to have to think about property too much.
