We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House price inflation - is this good? I thought inflation was bad!!
Comments
-
I think a few people need to learn the difference between assets and consumable goods.“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 think a few people need to learn the difference between assets and consumable goods.
...and another few people need to learn the difference between financial assets and assets in which people live
0 -
I class my house as a consumable item, like my car or my computer. It is something that is useful to me, and costs me a certain amount of money to maintain. The less I pay for my house/car/computer the better. The sooner I can pay off any loan for the purchase of these items, the better. I`d like to think that the next house/car/computer that I buy will not be too expensive, othewise I`ll stick with what I`ve got for as long as possible. I enjoy the convenience and take pleasure from owning these items, and I would like as many of my fellow occupants of this island to also experience that pleasure. Not everyone can afford to, and that`s a pity. I certainly don`t go around saying to people that can`t afford to run a car/ own a house/ own a computer - "ha, ha, I`ve got those things, you haven`t. And isn`t it great that those items are becoming more expensive ?".
Bagpipes punctured ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I class my house as a consumable item, like my car or my computer. It is something that is useful to me, and costs me a certain amount of money to maintain. The less I pay for my house/car/computer the better. The sooner I can pay off any loan for the purchase of these items, the better. I`d like to think that the next house/car/computer that I buy will not be too expensive, othewise I`ll stick with what I`ve got for as long as possible. I enjoy the convenience and take pleasure from owning these items, and I would like as many of my fellow occupants of this island to also experience that pleasure. Not everyone can afford to, and that`s a pity. I certainly don`t go around saying to people that can`t afford to run a car/ own a house/ own a computer - "ha, ha, I`ve got those things, you haven`t. And isn`t it great that those items are becoming more expensive ?".
Bagpipes punctured ?
You consume your PPR, BTL etc are business investments.0 -
I class my house as a consumable item, like my car or my computer.
And that's where you're going wrong.
A house is an asset, not a consumable item.
In 18 months your computer will be obsolete. In 5 years your car will be obsolete.
In 100 years my house will still be a house, just like it was 100 years ago.“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 -
I class my house as a consumable item, like my car or my computer.
You can buy shares and class them as a consumable item if you like, but most people wouldn't.
Where I slightly agree with you is that many people, like you and I, buy a house and aren't really that bothered about it rising in valule as we bought it to live in. So we don't really see it, primarily, as an 'asset'.
But if you had to class it as an asset or a consumable, it's clearly an asset.0 -
HAMISH_MCTAVISH wrote: »And that's where you're going wrong.
A house is an asset, not a consumable item.
In 18 months your computer will be obsolete. In 5 years your car will be obsolete.
In 100 years my house will still be a house, just like it was 100 years ago.
There are exceptions
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
HAMISH_MCTAVISH wrote: »In 100 years my house will still be a house, just like it was 100 years ago.
That's something that is changing over here. People are starting to view houses as disposable. You build it for your current needs then in 30 years, someone knocks it down and uses the land for theirs.
It makes sense in some ways as what people want from a house today compared to 40 or 50 years here has changed: eg air con, more electrical sockets, internet, more covered outdoor space with less garden, more space for cars.
The value is in the land, not the house. The house is just another depreciating asset like a car or computer, it just depreciates slower.
You can buy a house for less than the value of the land sometimes if the house is made of 'fibro' (a form of asbestos), ie the house has a negative value. 'You couldn't give it away'!0 -
HAMISH_MCTAVISH wrote: »In 100 years my house will still be a house, just like it was 100 years ago.
I know a lot of houses that won`t be houses in 50 years, let alone 100 years. Some of the newbuilds I`ve worked in don`t look as though they`ll last 50 years.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »In 100 years my house will still be a house, just like it was 100 years ago.
Houses without proper maintenance are wasting assets. Owning the land is the key.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245K Work, Benefits & Business
- 600.6K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards