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I know people living in London where prices are insane who secure a mortgage without ever intending to pay the full term. They buy a property, live very conserv
by ButterWashed 5y ago
I know people living in London where prices are insane who secure a mortgage without ever intending to pay the full term. They buy a property, live very conservatively in the hope the prices go up and use that extra boost to move out of the city.
If prices on an investment rise more than inflation 90% of the time why wouldn't you buy it?
- sgt 5y agoI feel bad for the people renting in London. Most people I know there simply can't afford buying as it is prohibitively expensive (>300k pounds I think?)
- lotsofcows 5y agoThat's for England. London is more like >GBP500k. https://lginform.local.gov.uk/reports/lgastandard?mod-metric=5230&mod-area=E92000001&mod-group=AllRegions_England&mod-type=namedComparisonGroup https://lginform.local.gov.uk/reports/lgastandard?mod-metric...