"Rent money is dead money"

scousethife

I entered this thread for the !!!!!! oscars!


It won!

IveSeenTheLight

neverdespairgirl wrote: »

I'm not being pedantic, really not.

I don't know what "house price recorded history" is. What do you mean by it?

"house price recorded history"

What I mean is since the statistics for house prices were recorded.

Nationwide average house price stats goes back to 1952



Now I challange you to show me anywhere in history, recorded house prices that were more expensive than 25 years in its history.

PasturesNew

IveSeenTheLight wrote: »

"house price recorded history"

What I mean is since the statistics for house prices were recorded.

Nationwide average house price stats goes back to 1952



Now I challange you to show me anywhere in history, recorded house prices that were more expensive than 25 years in its history.

To date, 25 years would have been a ridiculous timespan to have made a direct comparison. Maybe with inflation added in somebody can make that comparison.

However, after the events of the last 12 months, all bets are off, the rule book has been rewritten.

You cannot base the future on what has happened in the past. Also, "since 1952" really isn't a big timespan at all.

IveSeenTheLight

PasturesNew wrote: »

To date, 25 years would have been a ridiculous timespan to have made a direct comparison. Maybe with inflation added in somebody can make that comparison.

However, after the events of the last 12 months, all bets are off, the rule book has been rewritten.

You cannot base the future on what has happened in the past. Also, "since 1952" really isn't a big timespan at all.

Inflation - Does mortgage debt increase with inflation? No, Inflation actually helps to wipe out the extent of the mortgage debt over time.

Recent 25 years is a ridiculous timespan - Is the timespan between 1952 and 1977 also a ridiculous timespan to choose?

Data only going back to 1952 - I'm happy to look back as far as it is accurately recorded. Please feel free to show any links if you can find an earlier record.

PasturesNew

I'd like to add: owning a house is dead money .... one day I will have to buy a house, for cash - and when I do I lose the income I would have gained from the interest... OK, so that's not a lot right now, but it could be in the future again.

Most people see their house as costing them the £50, £200, £1000, £2000 per month mortgage, but really it's costing you that plus the lost interest on the equity you own.

PasturesNew

IveSeenTheLight wrote: »

Inflation - Does mortgage debt increase with inflation? No, Inflation actually helps to wipe out the extent of the mortgage debt over time.

Data only going back to 1952 - I'm happy to look back as far as it is accurately recorded. Please feel free to show any links if you can find an earlier record.

Just because a horse is blinkered in a race doesn't mean the other stuff it can never see doesn't exist.

You stated yourself that the nationwide data only goes back to 1952 and as I have only 0.00002% of interest in this current thread I'm not about to faff about trying to find other data that goes back sooner. I would, however, point out that the Nationwide figures are just a subset of all housing data.

IveSeenTheLight

PasturesNew wrote: »

I'd like to add: owning a house is dead money .... one day I will have to buy a house, for cash - and when I do I lose the income I would have gained from the interest... OK, so that's not a lot right now, but it could be in the future again.

Most people see their house as costing them the £50, £200, £1000, £2000 per month mortgage, but really it's costing you that plus the lost interest on the equity you own.

PN, by your own admission, you only rally have the cash to buy or indeed earn interest because you previously bought and sold property.

You wouldn't be in the position you are in now if you never bough property in the first place

IveSeenTheLight

PasturesNew wrote: »

Just because a horse is blinkered in a race doesn't mean the other stuff it can never see doesn't exist.

You stated yourself that the nationwide data only goes back to 1952 and as I have only 0.00002% of interest in this current thread I'm not about to faff about trying to find other data that goes back sooner. I would, however, point out that the Nationwide figures are just a subset of all housing data.

Wouldn't disagree, but you have enough interest even at only 0.00002% to know the data but not enough to look for data further back.
Maybe you are a little blinkered if you are willing to knock information but not look for back up the reasons why your knocking it

PasturesNew

Having said that, here are some house price data from 1930 to 2007

http://www.communities.gov.uk/documents/housing/xls/141272.xls

But that needs to be compared for inflation and wages too to give proper comparisons

PasturesNew

IveSeenTheLight wrote: »

PN, by your own admission, you only rally have the cash to buy or indeed earn interest because you previously bought and sold property.

You wouldn't be in the position you are in now if you never bough property in the first place

And I'd have never bought if I'd have stood any chance of getting a council house. As a single person it's darned near impossible to afford a rent with one salary.