OK, I understand that this forum is seriously full of moaning ninnies who are anxiously looking forward to an economic crash in the hope that a.) they can afford to get on the ladder for first time or b.) can make a killing in buying cheaper houses when they step back onto the ladder but seriously dudes, lighten up!!

Will there be some correction in house prices in the next 3 years? Probably. Will it be a crash (>20% reduction)- I seriously doubt it. Either way, why obsess about it? So HPC.com can attract enough members to warrant increasing its sponsored advertising rates?

I think we all need to chill out and be a bit more nonchalant on this. So what if 60% of our monthly income goes towards monthly rent/mortgage repayments? So what if the market will correct itself so we can make life a little more comfortable? Shouldn't we be taking a bigger perspective on it all. I found out this week that one of my work colleagues has lung cancer- 4-6 months life expectancy. Seriously, who cares if terraced houses in the Greater London area will rise by 5% in the next 12 months? Have a little fun speculating about house prices but just remember you can't take it with you when you leave.

Where your treasure is, there also will be your heart.

Well done chiefduffer, this needed saying!!

Too true.

Although it isn't that life is too short, it is the amount of time you remain dead for.

The quote above summed it up for me. So there is no way on earth I am paying nearly a quarter of a million pounds
(including interest payments) for a 2 bedroom terraced house! Bring on the crash so we can resume a decent
and sensible way of life!

This is my own psychological take on house prices during our 20 years of home ownership. Up until last year I had always, from a personal veiwpoint, welcomed rising house prices because that meant that we gained increasing equity in our property. We had an endowment mortgage, so the building society's equity remained at a constant 45K.

So as property prices rose, and our equity rose, that meant that if we were forced to sell we'd have a greater sum to play with.

But last year we paid off our mortgage from savings and cashed in endowments (did the sums, seemed like the best thing to do). Now we have 100% ownership of the house, which we like and don't want to move from. So we have no selfish interest in its value. If property prices crash, it'll probably retain its value in relation to other properties.

So now I'd be happy to see prices come down. It'll help first time buyers and others.

Its true, its not worth stressing too much about house prices...

But when your comin up to 30 &:
- Wages are not really goin up
- Jobs are gettin scarce
- You live with your parents
- Cant afford a bachelour pad >:- (
- House prices are gettin outta your reach
- You cant afford to start a family
- Cant afford to buy a new car

.....etc etc etc nowadays.... you gotta start playin hardball

I think you will find that these "moaning ninnies" would rather not have to work till they die to pay off a mortagage, and the decision to buy now or wait can have serious implications on the standard of living for these people, and their children.

Money isn't what's most important in life, but it isn't something to be swept under the carpet either. Non of spend our lives on this forum (ok DrBubb may be an exception along with a few others), and despite some of the pettiness that can go off on the forums there is also a small sense of community here, a wealth of knowledge, and few good laughs.

"Either way, why obsess about it? So HPC.com can attract enough members to warrant increasing its sponsored advertising rates?"

I think those people who run this site, you know, the people who pay the electricity bill for this server to be left on 24/7, and took time to create something good, deserve something back.

"we all need to chill out and be a bit more nonchalant on this"

a) Some of the people on this site are learning about the way our economy works from a perspective of the housing market, in the hope of making a better educated decision. A decision that could have serious financial implications for the future.

This is a subject that some people feel strongly or passionate about from many perspectives whether it be ethics/economics/psychology/sociology.

"Shouldn't we be taking a bigger perspective on it all"

I agree. Only last week I completely belittled some bloke who was complaining about the pain from his broken leg. Damn whiner. I told him about a documentary i'd seen on kids in india, and reminded him that there are kids in other countries born without legs at all working in sweat shops to make the jumper he's wearing. Then I thought about the documentary! Those kids looked so miserable, I thought they might need a little perspective, so I flew out there and told them stories of the kids who got gassed by the Nazis and that the ungrateful wretches should smile and look on the bright side of things.

If you care about something, their'll be a good reason why you care about it. Your statement could be used on half the forum sites around the world, anywhere where people start to get engrossed in ideas or philosophies.

I once worked in a nursing home and one image always stayed with me.

It was a beautiful summers day, the nursing home was a large country house and the main room was given over as a communal place where most residents would congregate.
Their was a large bay window and the sun shone through it in great shards of light that fell on a huge rug, which must have been 20ft by 20ft. The rug was beautifully patterned with deep lush colors. In the center of this rug lay a man in his nineties. He was facing away from me but his body was being gently warmed by the morning sun.
He was totally naked accept for a giant nappy which was starting to give off a familiar odor which meant he needed changing. The only control he had over his world was his ability to open and close his eyes or keep his tongue inside his mouth or let it hang out.
Oh man, where goest though, and where shall thy journey end?.

This is all a bit miserable but my point is that life is good NOW. Jumping for joy is not an embarrassing thing, their are some who cannot jump at all.

Enjoy.