Why are posters so Obsessed with House Prices?

vivatifosi

I'm not interested in house prices. I just stop by for the glittering repartee.

Exocet

vivatifosi wrote: »

I'm not interested in house prices. I just stop by for the glittering repartee.

Thanks for stopping.

treliac

House prices are of quintessential importance as they are the barometer of the economoy we operate within.

Okay, where's chucky to argue with me.

Malcolm.

What's a house?

<yes - i have just returned from a night out on the town>

Exocet

We are obsessed with house prices because this is the House Prices board. If it was a Synchronised Swimming board we'd be obsessed with that.

Exocet

Malcolm. wrote: »

What's a house?

<yes - i have just returned from a night out on the town>

You can't afford one anyway. Back on your bench.

DarkFallout

borntobefree wrote: »

I have never understood why the posters on this board and HPC are so obsessed with house prices, since the "actual cost" of a home is only a percentage of the total real cost.

For Example

Cost of house 200,000
int at 5% 25yrs 150,754
Total Cost of home £350,754


Cost of home 200,000
int at 2% 25 yrs 54,313
Total cost of home £254,313


Saving £96,441 from LOW INTEREST RATES!

http://www.guardian.co.uk/money/mortgage-calculator

Interest rates have never been so low! Why are you all so obsessed with house prices?

I don't participate actively in this board, but in my opnion the reason for the debate is simple.

Everyone needs to live somewhere.

For the ones that have their own house this is probably the biggest investment and/or expense depending if they are mortgage free or not. Therefore homeowners hope that the prices will go up/up/up and they will have more equity.

Just the opposite the people that don't have their own house or want to buy something bigger and more expensive hope that the prices will go down/down/down and they will achieve their targets easier.

Malcolm.

Exocet wrote: »

You can't afford one anyway. Back on your bench.

I can't afford a bench.

Exocet

Malcolm. wrote: »

I can't afford a bench.

Rent one. Bench share. You FTB's (first time benchers) want it all these days.

Malcolm.

Exocet wrote: »

Rent one. Bench share. You FTB's (first time benchers) want it all these days.

Thanks Exocet! If I sleep under the bench and my colleague above it, we can just about afford to buy the bench. It feels great to finally be on the housing ladder.