Recession concern with house buying

[magicrainbowbeans]

Is anyone here concerned about the stock market and potential recession, due to CV?

I'm in the process of buying, don't want to buy then find house prices dive.

Are you planning on moving and selling on quickly? Or staying in the home for a while?

Staying I think, but wouldn't want to be unable to move, say a job opening comes up elsewhere.

In the long term, house prices always increase.

In the short term they might increase or they might decrease.

If you want to move regularly because you're looking for jobs, renting might be a better option, not least because it costs about £5k to buy/sell a house. Investing in property is a long term thing really.

Well, sort of. We have just started on the process of buying “The House”, and need to access money that’s been invested on the stock market to fund it. We’ve lost thousands compared to the peak a couple of weeks ago..... but are well up compared to when we started saving.

The same argument applies to the value of the house we’re buying. We’re buying to live in it for years, probably decades. If the market does tank after we’ve bought, it won’t really make any difference because we’re not planning on selling any time soon.

Interest rates are very low so if you plan to stay for a while you are unlikely to be affected.