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Debate House Prices
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Have house prices outperformed inflation over the longer term?
Comments
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Cyberman60 wrote: »My house is now worth over four times what I paid 26 years ago, so it's pretty safe to say, YES !!!!
Also, bear in mind all gains are tax free on your main residence, whereas on shares you are likely to be liable to Capital Gains tax.:D
The value of the currency is four times less though? Plus if you bought with a mortgage you have paid out loads of interest to the bankers?0 -
Crashy_Time wrote: »The value of the currency is four times less though? Plus if you bought with a mortgage you have paid out loads of interest to the bankers?
Likelihood is you would be paying more or equal in rent though numnuts, at the end of the mortgage you own a rather valuable asset.0 -
Jack_Johnson_the_acorn wrote: »Likelihood is you would be paying more or equal in rent though numnuts, at the end of the mortgage you own a rather valuable asset.
As my rent was 350 p.m 17 years ago, and is 400 p.m now, and his time span is 26 years at all the much higher rates he would have paid, that is unlikely? "A rather valuable asset" is open to some debate I think. Lets debate it after the mother of all HPC`s (coming soon to a Valley near you!)0 -
Crashy_Time wrote: »As my rent was 350 p.m 17 years ago, and is 400 p.m now, and his time span is 26 years at all the much higher rates he would have paid, that is unlikely? "A rather valuable asset" is open to some debate I think. Lets debate it after the mother of all HPC`s (coming soon to a Valley near you!)
We've gone through all your probably fictitious figures and shown you how much you have lost just incase you forgot £90k mortgage interest at 4% £300 a month that flat was probably £45k 17 years ago so £150 a month.0 -
We've gone through all your probably fictitious figures and shown you how much you have lost just incase you forgot £90k mortgage interest at 4% £300 a month that flat was probably £45k 17 years ago so £150 a month.
The figures are accurate, not fictitious, and I wouldn`t want to have lived in that flat for 17 years (or be stuck in it now like the hopeful would be seller) Hope that clears things up for you.0 -
Crashy_Time wrote: »The figures are accurate, not fictitious, and I wouldn`t want to have lived in that flat for 17 years (or be stuck in it now like the hopeful would be seller) Hope that clears things up for you.
But what would you have got for £90k in 17 years ago.0 -
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Crashy_Time wrote: »As my rent was 350 p.m 17 years ago, and is 400 p.m now, and his time span is 26 years at all the much higher rates he would have paid, that is unlikely? "A rather valuable asset" is open to some debate I think. Lets debate it after the mother of all HPC`s (coming soon to a Valley near you!)
Yeah but 17 years ago you were renting a 4 bedroom house and now you're renting a rusty shopping trolley which has fallen into the canal.0 -
Crashy_Time wrote: »As my rent is 400 p.m now
According to Rightmove the only thing you can rent in Edinburgh right now for £400pm is a lock-up garage!?!??! :rotfl:Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
Crashy_Time wrote: »Didn`t have 90k 17 years ago, and I don`t do borrowing to pay bankers interest. Hope that clears things up for you.
This is where you are going wrong there is nothing wrong with sensible borrowing especially if the rent you are paying is more that the interest on the mortgage.0
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