one reason !!! not !!! to buy property, page-32

Hmm the emotions regarding housing prices on this thread is interesting.

I am a fairly young person at 29 but this not exclude me from forming valid opinions regarding the possibilities house prices might take over the next few years. In fact, one potential upside of having not owned a house is that I have not been conditioned to trust that the real estate uptrend will continue for eternity.

Anyway, I think the best way I have seen to express house prices is the index to median incomes. Now compare this index to what has happened in the UK and US and it is certainly food for thought.

To the previous poster, I have been reading Keen's Debt Deflation blog for a while and I would suggest anyone interested in this sort of thing to do so as well with an open mind; I think it's healthy to look at alternate views, even if you do not agree with them.

My personal view (having saved up a 30% house deposit) is that the shorter term view regarding house prices is not strong. Yes, some areas shall of course outperform others. I think the medium to long term view is still sound but I will be VERY surprised if median house prices do not fall significantly (i.e. >10%) over the next 12 months, and therefore, a better entry point for first home buyers is likely to appear in comparison to current prices.

Why not wait a bit and gain some more equity?