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Debate House Prices
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Houses overvalued still?
Comments
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But Hamish, if that figure is yen then it's worth about ten bob.
Sadly not.....
A million US dollars a square metre.
Making any comparison with the UK's situation meaningless.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »I could argue every one of your points, but it would be too much effort.
But this one is too outrageous to let pass.
At peak, Japanese real estate was selling for $1,000,000 a square metre.
When UK prices reach those levels, come and talk to me about Japanese style deflation.
Where did you get that figure from? Maybe they were talking about the Empire palace or something.
But yes Japan house prices fell 80%. Most people think 20% is a crash, they havent seen anything yet.0 -
That figure's on Wikipedia (which of course doesn't mean it's correct, but it's quite likely to be):-"Prices were highest in Tokyo's Ginza district in 1989, with choice properties fetching over 100 million yen (approximately $1 million US dollars) per square meter ($93,000 per square foot). Prices were only marginally less in other large business districts of Tokyo. By 2004, prime "A" property in Tokyo's financial districts had slumped to less than 1 percent of its peak, and Tokyo's residential homes were less than a tenth of their peak, but still managed to be listed as the most expensive in the world until being surpassed in the late 2000s by Moscow and other cities. Tens of trillions of dollars worth were wiped out with the combined collapse of the Tokyo stock and real estate markets. Only in 2007 had property prices begun to rise; however, they began to fall in late 2008 due to the financial crisis."
http://en.wikipedia.org/wiki/Japanese_asset_price_bubbleNo reliance should be placed on the above! Absolutely none, do you hear?0 -
So what do you guys think about Gold. I have sold my home, my wife and my children, and plan to buy gold instead just before the double dip in March. Is this a wise move?
According to my new friends at HPC, I will be richer than Donald Trump by Christmas and will be able to buy two wives and a truck load of children.
Is this too optomistic?0 -
In all seriousness gold wont perform as well as silver over the next decade. Gold is targeting $10,000 oz at the moment its about $1000.
Silver is targeting $1000 oz at the moment its about $16.
So as you can see this next decade silver will far out perform gold.
As for house prices well throughout history whenever there is a correction it nearly always takes several years to find a bottom and start the next leg up.
History has a habit of repeating itself.0 -
Cool - I will risk my home and put all my hard earned money into a different non-yield earning, highly speculative volatile asset like silver, rather than gold.
Sounds like a pukka idea to me !0 -
In all seriousness gold wont perform as well as silver over the next decade. Gold is targeting $10,000 oz at the moment its about $1000.
Silver is targeting $1000 oz at the moment its about $16.
Why doesn't silver target $5000? Surely that is better?So as you can see this next decade silver will far out perform gold.
Indeed. Plain for all to see by the (clearly factually based) numbers you've posted.As for house prices well throughout history whenever there is a correction it nearly always takes several years to find a bottom and start the next leg up.
Do you have more detail please?History has a habit of repeating itself.
As does RDB, silverstandard, novazombie and crazygaijin..... funny that.
By the way, how is the wife?0 -
As the gap between gold and silver has grown over the years, I must say that I have become quite keen just to own some silver. One snag is the bulk. If I decide to buy £100,000 worth of gold, that's about 4 KGs, so i can keep that in a wall safe at home. The same value in silver is over 300 KGs, ie around 1/3rd of a ton. I suppose you could build it into the foundations of your house? Otherwise, you are into warehousing and insurance, etc.No reliance should be placed on the above! Absolutely none, do you hear?0
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As the gap between gold and silver has grown over the years, I must say that I have become quite keen just to own some silver. One snag is the bulk. If I decide to buy £100,000 worth of gold, that's about 4 KGs, so i can keep that in a wall safe at home. The same value in silver is over 300 KGs, ie around 1/3rd of a ton. I suppose you could build it into the foundations of your house? Otherwise, you are into warehousing and insurance, etc.
You'd keep £100,000 in a wall safe at home??
I guess you've got better walls than me.0 -
I'm having an extension built so I can display my collection of Queen Anne Silver. :cool:0
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