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Debate House Prices


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The American Empire Is Bankrupt

here is the future...the dollar is unwanted and plans are afoot to replace the dollar as the world’s reserve currency
http://www.truthdig.com/report/item/20090614_the_american_empire_is_bankrupt/

interesting times we live in..
It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
«134

Comments

  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    geoffky wrote: »
    here is the future...the dollar is unwanted and plans are afoot to replace the dollar as the world’s reserve currency
    http://www.truthdig.com/report/item/20090614_the_american_empire_is_bankrupt/

    interesting times we live in..

    Very interesting article that Geoff, FP from HPC posted it earlier, considering he hasn't posted there for some time due to a bust up, he must feel quite strongly about the content of the article, good time to buy a house...... I think not.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    edited 16 June 2009 at 7:58PM
    Given time, paper currency will always revert to its intrincic value.................


    ZERO
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • bluey890
    bluey890 Posts: 1,020 Forumite
    nearlynew wrote: »
    Given time, paper currency will always revert to its intrincic value.................


    ZERO

    Whoever dreamt that (quote) up doesn't buy the household toilet roll. :)
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    edited 16 June 2009 at 8:08PM
    ad9898 wrote: »
    Very interesting article that Geoff, FP from HPC posted it earlier, considering he hasn't posted there for some time due to a bust up, he must feel quite strongly about the content of the article, good time to buy a house...... I think not.

    If western currency is being devalued...then buying assets before the currencies worth less is a good thing, no?
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Replace it with what though? The only currency even close to it in terms of reserves is the Euro and that's still way behind.
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • LydiaJ
    LydiaJ Posts: 8,083 Forumite
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    bluey890 wrote: »
    If western currency is being devalued...then buying assets before the currencies worth less is a good thing, no?
    Not, I think, immobile assets like houses. It's very difficult to sell a house in Britain for anything other than Sterling, or a house in the US for anything other than USD, etc. To take advantage of currency changes you need to be able to buy something in one currency and then sell it in another currency.
    Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
    Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
    Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
    :)
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    edited 16 June 2009 at 8:47PM
    bluey890 wrote: »
    If western currency is being devalued...then buying assets before the currencies worth less is a good thing, no?

    For you with the money maybe. Now.

    But what about someone 2 years down the line?
    your children maybe

    Someone who had saved their money looking to buy a house in the near future?
    And now find their money is worthless?

    Or doesn't go any where near enough to buy a similar house that someone bought 2 years earlier for half the price?

    Or you find that you are now stuck in the flat or house you bought and can't move to something bigger even though you're earning more "money"?


    whichever way you cut it............................. INFLATION IS THEFT

    House price inflation is a poison on society
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Masomnia
    Masomnia Posts: 19,506 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    nearlynew wrote: »
    For you with the money maybe. Now.

    But what about someone 2 years down the line?

    Someone who had saved their money looking to buy a house in the near future?
    And now find their money is worthless?

    Or doesn't go any where near enough to buy a similar house that someone bought 2 years earlier for half the price?

    Or you find that you are now stuck in the flat or house you bought and can't move to something bigger even though you're earning more "money"?


    whichever way you cut it............................. INFLATION IS THEFT

    Indeed. Gosh, if only there was some repisitory of sorts, some kind of financial institution in which we could deposit our money and in return recieve a payment which would make up for the devaluation...
    “I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Masomnia wrote: »
    Indeed. Gosh, if only there was some repisitory of sorts, some kind of financial institution in which we could deposit our money and in return recieve a payment which would make up for the devaluation...

    What, you mean.....................

    ......................like a bank?


    Great idea.

    Just don't, whatever you do though, allow them to create money out of thin air.
    That just leads to trouble.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • bluey890
    bluey890 Posts: 1,020 Forumite
    nearlynew wrote: »
    For you with the money maybe. Now.

    But what about someone 2 years down the line?
    your children maybe

    Someone who had saved their money looking to buy a house in the near future?
    And now find their money is worthless?

    Or doesn't go any where near enough to buy a similar house that someone bought 2 years earlier for half the price?

    Or you find that you are now stuck in the flat or house you bought and can't move to something bigger even though you're earning more "money"?

    My comment was in relation to ad9898 post about potential future currency devaluation making it a bad time for HPs.

    The overall lack of housing resource is a different issue, which i've stated my opinion clear on before.
    nearlynew wrote: »
    whichever way you cut it............................. INFLATION IS THEFT

    House price inflation is a poison on society

    The economy is designed to work in an inflationary environment. Hence the BOE target. I'm happy to listen to a deflationary or other alternative. (I'm aware that there are some)
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
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