in 10 years from now will house prices by higher than now

moneyinmypocket

if you had to bet on it?

chucknorris

moneyinmypocket wrote: »

if you had to bet on it?

In nominal terms yes, but are you talking about in real terms? If so I would probably bet that they would 10 years from now, but I wouldn't bet that they would be higher than 2007 prices in real terms 10 years from now.

King_Of_Bling

moneyinmypocket wrote: »

if you had to bet on it?

YES, i'd bet the house on it.

kabayiri

I'd have felt much more confident betting on pretty much anything in 2001 looking towards 2011.

The events from 2007 to present have proved that greed and desperate politicians can pretty much turn any assumptions on their head.

UK could even have our own versions of Freddy and Fannie in 10 years time. Who knows.

MrRee_2

There is no doubt about this fact .... and it is a fact.

I would bet all my renters money on it - oh, wait a minute, I AM!

Seriously, if anyone bought today - and they or their family sold in 10 years time I could almost guarantee that they would get every single penny back.

Sadly, if you are a renter - who wants to move in 10 years time to another property .... you will take a big fat zero with you.

These are certainties, not gambles.

If you buy - in 15 years you will probably own outright (given the ridiculously low interest rates today). As a renter, sadly, you will still be paying month in month out.

the_flying_pig

moneyinmypocket wrote: »

if you had to bet on it?

mm, ten years.

it's far from certain. i assume you're talking even money when you talk about a "bet".

i reckon, oh, it's very uncertain of course, and these figures are based on nothing but gut feel... about a 3:2 chance or thereabouts in favour of the average nominal price being higher.

Get-real-buy-real

moneyinmypocket wrote: »

if you had to bet on it?

You have to understand the difference between price and value. Price means nothing. So yes in 10 yrs from now the "price" could be the same or a little more than now for an average house.

How you measure the value is a different ball game. A lot depends on how much the currency supply gets abused.

One good long term way to measure the value of house prices is to not use fiat currency but measure stuff with stuff.

Thrugelmir

moneyinmypocket wrote: »

if you had to bet on it?

Does that include the cost of purchase, interest on the debt etc?

While people historically love to talk about the price increases. Few say how much its actually cost them to buy.

HappyMJ

moneyinmypocket wrote: »

if you had to bet on it?

I will bet my house on it. Cost to rent my house would be £585 per month. Cost of lost interest on the capital that is tied up or paid on the mortgage at 3.75%. House value £135,000. £425 per month. Gives me £160 to spend each month on repairs and maintenance. I think I can manage on that.

MrRee_2

Thrugelmir wrote: »

Does that include the cost of purchase, interest on the debt etc?

While people historically love to talk about the price increases. Few say how much its actually cost them to buy.

Of course, the costs include ineterest payments for 10 years, and repairs/maintenance.

Taking all those costs into account - over 10 years - you can't lose ... every penny will come back to you ... that's just how it is.

Rent, on the other hand, and nothing comes back - zero - nothing - nowt - the big flat nought ............ and, the rub is, you never stop paying!

Cleaver

MrRee, shouldn't you be enjoying your weekend in one of your classic sports cars rather than debating on here?