NORMAL LIFE: When The Bust Comes....

When I left the UK way back in November 2001, it was to undertake a temporary contract in Finland to make a bit of extra money; my salary hadn't increased enormously, but the provision of a free apartment and other benefits meant that my disposable income had increased significantly.

But I saved. I marvelled at the savins that slowly but surely accumulated. It saddens me to read, then, that in June of this year house prices had increased 12.1% since June 2007. I will never understand economics. I mean, salaries haven't risen as much so why is it that the average cost of a home in the UK is £214,222 (€322,704)? It's ridiculous.

The ironic thing is that I have the money to put down a sizeable, well-over-average deposit on a house, but I am reluctant to. You know why? Because when the bust comes, I'm going to take great pride in seeing those who bought their houses recently, taking on huge loans, grumble at being left in negative equity, burdened with loans worth more than their property is even worth.

I am a patient man. I have been waiting six years and can wait another six years, safe in the knowledge that my savings continue to grow free of risk. What will property owners be left with when the crash hits them? Nada!

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