Mortgage annoyance!

[somebody]

MORTGAGE:

I am getting more and more confused...

I read an article saying it s best to buy a house now because it is rather cheap...
Phil & Kirsty in Location, location, location said to grab those cheap prices...

And what about the financial market? house prices arent stable at the moment... not best to invest on falling prices because you will be paying more than what you have bought...

Others said: Best not to buy now. Economic Crisis. The doom & gloom, recession whatever they call it!!!

Hmmmmm....

Anybody can help us please?

Thank you!

P.S.
We are renting a 2 bedroom apartment and it is really reasonable... But i still don't have an idea what's he best option? Pay monthly rate and forget about high interests on mortgages? Rent for life? Own a house?

I'll review also our council tax payments as we might be overpaying it...

Depends on your area.

But i would not listen to estate agents and the like, even my brother in law who works in a propety related businessis convinced prices will rise this year or at least very soon. Personally it will take a good few years as the banks have said before anything like the lending people used to get was offered. Also both banks and indivuals as a whole have debt levels that need reducing.

Seems to be a lull at the moment as companies soon have to pay rent and major bills, plus companies will be calling in more debts before april and trying to restructure things will not be good. This recession will take a whille to hit various secotrs due to the complicated way business now works.

I would wait a little longer prices will come down further, at least though the begining of 09. Nothing to complicated but basically theres in most parts of the county an oversupply of houses (even though many are wanting them) and prices are higher than most people can afford.

As i mentioned in another post in our area and surrounding areas houses are having huge discounts taken off there orignal price and most simply dont move the only ones that do are way below market price. Soon people will need to move or sell for various reasons and price will not matter so they will drop further.

Look around if you see the propety you really like and plan on staying in it for a long time then most likely any short term loss will be ironed out. Even if its not why not see beyond the profit and loss thing and enjoy your home?

You buy a car and it loses its money, but doesn't stop you buying it but having said that if you rent the moneys gone.

Worth looking at new bulids many house buliders are desperate to shift them seen some shared ownership flats round our way at 60-70 k when the full price is nearer 250-299 ( i thinking they are dreaming but still)

Getting a part share and apying part rent maybe help you on the road. Most you can buy a bigger share as you go along. Some shared ownership schemes offer houses.