Long-notice announcement of a housewarming party

[fivemack]

My landlord came round this evening and said that he needed to sell the house to pay his divorce settlement.

I get two month's notice starting from when he finds a buyer, and apparently now is almost exactly the trough season for house-buying, so that hopefully means I won't be turfed out until the spring.

I think I could afford to buy the house myself, especially if I keep my current housemate on and get him to pay rent, but given that I believe house prices have a fair way to fall from here, spending most of my wealth on the pursuit of negative equity is not just Not Clearly Wise, but Clearly Not Wise.

Glerk. One more thing to worry about. And I have my driving test Monday. I'm not sure how confident I am about it, so I've made a small bet. If I pass then I buy my housemate a swede; if I fail, he buys me a cabbage.

Comments

[senji.livejournal.com]

Negative Equity is only a problem if you need to sell...

[ewx.livejournal.com]

Where "sell" includes "trade up". Though it's quite not so much of a problem there, as the new place would presumably be relatively cheap if the old place had fallen in value since you bought it.

[lnr]

Eg if interest rates go up and you can't afford the mortgage any more...