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Buying a property - am I stupid not too?
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That's London for you.It's not easy having a good time. Even smiling makes my face ache.0
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Tassotti wrote:Over what time scale are you basing this 8%. From 1991 to 2001, properties in the area I invest in increased over 300%. That seems like about 30% per annum to me.
My point is that if everyones salaries had increased by 30% per annum everything would be equal. They are not, so to say house prices rise at the same rate as salaries is nonsense.
I'm afraid Meany is correct on this one.
You could base this on a long term average of 50 years.
The covers at least 2 complete cycles.
The huge increases we've seen in recent years only covers half a cycle.0
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