Assume that you are acting as a financial adviser of a young family which faces a buy vs rent decision in the housing market. Critically discuss the aspect that they need to consider in their decision: the process of appraisal, analysis of macroeconomic and local conditions, the choice of mortgage, the impact of government policies, etc. You may provide either a general overview of these issues, or focus on a specific example of a geographical area to highlights the tradeoffs that the family faces.

Overall word limit 1500 words