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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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HAMISH_MCTAVISH wrote: »I think a few people need to learn the difference between assets and consumable goods.
"assets" inflation good, "consumable goods" inflation bad.
i kind of feel that i daredn't ask why.FACT.0 -
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.
But how much rent will you have to pay when you retire, how much will the person who didn't buy a house pay? I call that £1000 you are saving an investment just as much as the £2000 pension you receive from your SIPP.'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 -
Running_On_Empty wrote: »No, you don't remember house prices crashing by 50% in the late 80s.
They didn't.
Must have been the 90's then. I was young and its a blur to me........0 -
Must have been the 90's then. I was young and its a blur to me........
Nope. Not the 90's either.
House prices crashed by 13% in the 90's.
And 23% in the crash of 2008/2009.“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: »Nope. Not the 90's either.
House prices crashed by 13% in the 90's.
20% in real terms.The biggest falls in house prices occured between 1989 Q3 and 1993. House prices fell £12,614 or 20%
http://www.mortgageguideuk.co.uk/housing/uk-house-price-index.html0 -
“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 -
He doesn't do real terms.
But in real terms, even a 3% savings account has given better returns this year.
Hence why savers as such parasites.0 -
20% in real terms.
20% when compared against the price of televisions, chocolate and bananas you mean.
I fail to see the obsession with "real terms" inflation conversion with regards to house prices.
It's absolutely irrelevant.
If you must compare, do so against wages. Which usually lag inflation anyway.“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: »20% when compared against the price of televisions, chocolate and bananas you mean.
Or fuel, council tax, food and clothing.0
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