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RE: Why you can’t afford a house – financialisation, deregulation and easy-mortgages!?
Yeah... Rub it in. I've been looking for a house for ages now. It's just not affordable. Extensive calculations say that it IS still waaaaay more economical long-term to buy vs rent though. Ugh. I really don't like the idea of buying, but in the end of the month I would have more cash available for other stuff :-)
You should buy if you can afford it. I was lucky to get in on a government assisted part-buy scheme, then lucky enough to get out last year before they hiked the service charge to £4500 ($6000) a year, or so I've heard!
I like being a house owner, I don't like paying off a large mortgage that is only so large because of financial engineering.
It's all such a systemic trap.
Yes, it will probably happen. But I feel like I'm buying 'top of the market' now - but can I wait and hope for lower prices 'soon'? It's a huge gamble.
Yes, it's a systemic trap - I'm now looking into options where I buy a house and rent half of it to a student for example :-) That would be the dream. #passiveincome
It's a difficult call whether to wait or buy! No point rushing into anything unless you find somewhere you really want.
Part-renting defo sounds like a good plan!