In 2006 average house prices in the UK rose by 9.3%

[Upwind]

From the BBC (clicky) :

"This represents a ?40 increase per day," said Fionnuala Earley, the Nationwide's group economist.

"The top three performers in the final quarter of the year were Northern Ireland, Scotland and London, but even the relatively weaker regions in the Midlands and North have seen a marked pick-up in house price inflation this quarter," she added.

I am fairly sure that average "house price" includes flats. Means that renting has effectively cost us 40 pounds a day, that is 14,600 pounds over the past year - I seriously think that if we cannot get acceptable rental housing or buy as our family grows we will be best off emigrating.

ratclare I don't don't think the bust will happen unless some economic "fundamentals" change and it can happen (in most parts of London BTL is no longer financially viable) When interest rates rise and prices drop although your repayments at that time will be larger you will owe less money surely a better situation! We are also long overdue for a change in the tax treatment of BTL which would make it even less financially viable (although non of the major parties have this in their plans!)
Although personally I wouldn't wish financial problems on any friends/family/work collegues/mumsnetters a drop in prices has many benefits not least freeing everyone up to move and after all they've had their day in the sun why not me? A fair few of those who get hurt will be those who have acted irresponsibly so I don't see why I should pay the cost of that. (No disrespect to any one else)

those who will get hurt will be ones who have acted irresponsibly? Hmm, don't really like the tone of that. i think most of the ones who will be hurt are just ordinary people trying to buy a home. Not very nice to think that there will be people feeling satisfied about others losing so much.

ruty you have taken some of my words and twisted them to make me look bad. Why? I have made no secret of the position I'm in on here, I'm giving an opinion which is no more or less valid than everyone elses. I specifically said I wouldn't like to see x,y and z get hurt, went on to point out that many people benefit in many ways from financial ebbs and flows what is in one persons favour isn't nec. in anothers but someone somewhere will benefit, then went on to say that some of those who will get hurt will have acted irresponsibly not everyone just a fair few. When someone borrows money and doesn't pay it back those who do pay their debts pay extra to cover that. It's akin to people saying the NHS is free it's not I pay a whole heap of tax for it so from where I'm sitting it's anything but. My landlord has made whole heap of money out of me but no one is jumping down his keyboard accusing him of gloating. (I don't think he's on here actually!)My families future is v. important to me so it's not something I want to throw away willingly. I have to do bedtime soon so might be off for a bit.

What I'm trying to say is (apparently if you believe everything you read) a whole heap of people have made a lot of money by heavily gearing themselves and have a lot of property as a result as these threads show a lot of people (unhappily) can't afford their own home. If financial changes mean that changes and they loose a flat or two and others get one then so be it. That is not my fault (and not a result of anything I've done). I don't think there is anyone posting on here (myself included!) that would revel in a family loosing their home. If that is not the case then I apologise!

didn't mean to twist your words. It's just that the whole system is unfair but i don't think a crash is the way to solve it.

umm don't know what is though!

i think when new homes are built they should only allow first home buyers to buy, or put a ban on investment buyers, saomething like that. I know it's not going to happen, but a crash would be disastrous for as many people as it might benefit.