r/Glasgow Tools

Ok, you're making two separate points.

Your first point is to not purchase property without assessing uncertainty and to take your personal circumstances into account. This is just blindingly obvious and absolutely nothing has changed in the past few months to make this novel advice. You should always buy with the understanding prices might drop and you should assess your own ability to ride through devaluation.

The second point you're making is that the downturn in stocks from the coronavirus is in fact the beginning of a far wider market correction that will impact everything from jobs to housing. That is quite a different claim, as you're taking a market projection and claiming it as fact. And your advice to investors to reduce risk exposure to construction and property equity funds is not something that directly equates to 'don't buy a house' again because you're using the wrong counterfactuals. If you sell your primary residence, it's normally to buy a new primary residence, so as long as you've repaid enough to be able to sell, then the actual valuation isn't that important as your mortgage is over 25/30 years rather than the time you own a single property.

> a market that has just passed by

You're claiming this as objective fact! Even under bad Brexit scenarios you don't know the performance of property as an asset class relative to other economic indicators.

Please separate out your 'good sound generic advice' from your nostradamus 'the end is here' stuff. You might be right, you might not.