UK house prices not set to recover for another ten years, says PWC

Graham_Devon

Really2 wrote: »

No currency is nominal, if you can count your money in your pocket today it is nominal.
What that would be in 10 years time or 10 years ago is real term.

Why would I count the money in my pocket when talking about buying houses?

I'd count the money in my savings account, I'd count my wages, as would those giving me the mortgage. Those are in real terms. Falling behind inflation at the moment, but my real term wages pay for my real term increase in costs every year.

Count the money in my pocket...lol. Jesus, the goalposts move every thread.

Really2

carolt wrote: »

That's fall, particularly in real terms. NOT a rise, but a fall in real terms.

Yes so what does that mean in nominal terms carol? stagnant prices or nominal rises below inflation,
It is hardly a crash is it, especially if you don't get a pay rise.

System

Graham_Devon wrote: »

Why would I count the money in my pocket when talking about buying houses?

I'd count the money in my savings account, I'd count my wages, as would those giving me the mortgage. Those are in real terms

Your savings and wages are nominal as well.

chucky

Graham_Devon wrote: »

Why would I count the money in my pocket when talking about buying houses?

I'd count the money in my savings account, I'd count my wages, as would those giving me the mortgage. Those are in real terms. Falling behind inflation at the moment, but my real term wages pay for my real term increase in costs every year.

Count the money in my pocket...lol. Jesus, the goalposts move every thread.

oh dear - you don't seem to get it at all.

are you really this stupid or do you just pretend?

the money in your account is still nominal

Graham_Devon

Really2 wrote: »

Yes so what does that mean in nominal terms carol? stagnant prices or nominal rises below inflation,
It is hardly a crash is it, especially if you don't get a pay rise.

Who said it was a crash?

Really2

Graham_Devon wrote: »

Why would I count the money in my pocket when talking about buying houses?

I'd count the money in my savings account, I'd count my wages, as would those giving me the mortgage. Those are in real terms. Falling behind inflation at the moment, but my real term wages pay for my real term increase in costs every year.

Count the money in my pocket...lol. Jesus, the goalposts move every thread.

Graham are you mad, the term means the money you hold, it could be anywhere you fool.
The fact you can count it and don't have to add an adjustment on to it tells you it's worth means it is nominal.

How many times.................. Doctor.:eek:

Really2

Graham_Devon wrote: »

Who said it was a crash?

Me, I was saying it is hardly a crash.

Look a shiny.

Graham_Devon

Really2 wrote: »

Graham are you mad, the term means the money you hold, it could be anywhere you fool.
The fact you can count it and don't have to add an adjustment on to it tells you it's worth means it is nominal.

How many times.................. Doctor.:eek:

You know exactly what I mean. It's nominal today, yes. I never argued it wasn't.

But the money in my savings account will have increased on 1st Aug 2010. So what's that?

The money in my pocket is static, no way of increasing.

StevieJ

Really2 wrote: »

Graham are you mad, the term means the money you hold, it could be anywhere you fool.
The fact you can count it and don't have to add an adjustment on to it tells you it's worth means it is nominal.

How many times.................. Doctor.:eek:

I am sure Harry will be along soon to add his two penny worth
BTW leave off Dev he has probably got a crying baby keeping him up all night, his comments certainly read like he has :eek:

Really2

Graham_Devon wrote: »

The money in my pocket is static, no way of increasing.

It is still Nominal like I said.

Really2 wrote: »

No currency is nominal, if you can count your money in your pocket today it is nominal.

You spend it on nominally priced goods. So you were just being a bit dumb on the term. (Money in your pocket is a term used to describe money you have. EG I made £200 profit today, that is money in my pocket)