Some really interesting comments here. My two pennies worth...
Investing in property isn't right or wrong. Different people have different levels of risk and different lifestyle choices. If you want to be a musician travelling the world, then buying a house probably isn't for you. If you want to settle down and provide a stable environment for your children then buying could be a good option.
When people talk about making big gains or loses on property, you must remember it is all relative. If you make £100k on a house, great. But when you sell it and upscale the house you are buying is likely to also have increased. If you're downsizing and cashing in, great, I'm happy for you. If you 'lose' £100k in a downturn, remember that you could benefit when you upscale as the place you're buying is likely to be so much cheaper. As I say, it's all relative.
Buying stocks, art or baseball cards could've been a better investment over the last twenty years or so. But none of them could've kept you warm, dry and secure whilst they were making you some money.
I should add I used to own 40+ properties. Made a profit, sold most, lost all the profit on property deals in Dubai and Spain. So I've seen best and worst of the property market. I still have some properties left, domestic and commercial and would prefer those to see me into retirement rather than some other pension plan.
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September 11th 2014----
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