The property bubble is waiting to burst
As a general rule, it is a mistake to go through life thinking about how much one’s house is worth. In the summer of 2002, when I bought my ‘lovely end of terrace period cottage providing compact character accommodation’ in Gospel Oak, London NW5, I assumed I had managed, with unerring incompetence, to buy at the very top of the boom. It seemed to me unimaginable that anyone would be willing to spend more than the grossly inflated sum of £385,000 which I had paid for my small, damp, jerry-built house.