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Debate House Prices
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House price inflation - is this good? I thought inflation was bad!!
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And although a house may outlast me, I still need one to live in. I buy shares/gamble/work to try and make money to buy things like a house, a car or a computer. I don`t see buying a dwelling to live in as a way to make money. Sure, if I was into BTL or property development, then yes, I`d class it as an asset. Strange as it seems, most people buy a house to live in, not to make money out of. I know I did, I know my parents did, and most of my friends say the same.
It seems that it`s only a few people here that get rather aroused by news of HPI.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
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.
Yes, many cultures are like that. The japanese often build houses from wood, for example.
But most houses up here are built from granite blocks and designed to last many hundreds of years.
You wouldn't view the houses of parliament as disposable, yet my house is built from the same granite from the same quarry as parts of that.
I don't disagree the land is valuable, but the houses can also be valuable too.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.
In most areas, people pay a premium for houses which are hundreds of years old, so I'd disagree.
A georgian or victorian house in the middle of Edinburgh or Aberdeen is worth far more than a similarly sized plot of land on the same street that used to be someones garden.“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 -
And if you live in Scotland worth 50% less ;o))))))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.
Just tugging at yer kilt ;o))))0 -
I don`t see buying a dwelling to live in as a way to make money. Sure, if I was into BTL or property development, then yes, I`d class it as an asset. Strange as it seems, most people buy a house to live in, not to make money out of. .
You should probably add "imputed rent" to your list of things worth learning about in 2011.
A house is an asset that delivers financial returns to the owner.
Whether they rent it out or live in it is irrelevant.“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: »
A house is an asset that delivers financial returns to the owner.
.
I remember house prices crashing by 50% in the late 80's and lots of tears and handing back of keys and estate agents closing down. Maybe not a bad thing thinking about it now.......0 -
HAMISH_MCTAVISH wrote: »You should probably add "imputed rent" to your list of things worth learning about in 2011.
A house is an asset that delivers financial returns to the owner.
Whether they rent it out or live in it is irrelevant.
I think you might be saying that because I own my home, I`m not paying rent, so therefore I am £500ish per month better off than if I didn`t own this place. Is that correct ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Just tugging at yer kilt ;o))))
I don`t think he`s bothered by that too much. I stuck a needle in his bagpipes earlier, and he hasn`t complained one bit, and I doubt it`ll change his tune.
Those scots are a tough breed, I`ll give em that.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Bag Pipes are cool I like the sound just quote that Irish Whiskey tastes better then Scots Whisky ;o)))I don`t think he`s bothered by that too much. I stuck a needle in his bagpipes earlier, and he hasn`t complained one bit, and I doubt it`ll change his tune.
Those scots are a tough breed, I`ll give em that.0 -
Bag Pipes are cool I like the sound just quote that Irish Whiskey tastes better then Scots Whisky ;o)))
Hamish, over to you.......
(I reckon diable`s gonna get both barrels, and not Whisky ones).
Fight !30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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