Response to So when will it be a good time for me (a previous repo sufferer) to buy?

Max - impressed with the economic merits of your argument but I think you'll find that your statistics on developed land are wrong. Having driven the length and breadth of the UK many many times, I would say that less than 30% of the country remains undeveloped (but I will get the accurate stats because I am a total Doris about that sort of stuff). Why oh why would you want to squeeze more houses onto fragile greenbelt land? It's already been plundered to the most awful extent and there just is no more room in the UK (particularly the South) for large housing developments. Schools are already overcrowded and the health service is collapsing - it isn't the needy working class/young families who benefit from raiding the greenbelt, because they can't afford the housing in the first place. Subsidised housing complexes are the long-term answer; stable families (of whatever structure) spend money which stimulates the local economy.They should never be allowed to buy the stock - if they can afford do that - vacate the house and let someone who needs it live there. What happens in England at least (not the whole of the UK) is that rich and often absentee landlords buy up properties - repo's especially and then rent them out at extortionate rents. I couldn't find a house in a non- slum area to rent which cost less than a thousand quid a month. How on earth could I afford that on one income? I couldn't and now another country has a skilled worker because I can afford to raise my kids here and won't be harassed daily for a non-existent shortfall. Oooh I sound bitter....

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