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Nationwide Building Society August 2020 House Price Index
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"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
Originally posted by PCTNN View PostIf you're buying a house to have it as your home, a home that you'll keep for a long time, you don't give a crap about how much it's going to be worth in say 5 years.
Normal people don't always see everything as an investment in which you absolutely need to have a return.
People buy houses because they need houses.
They might when they discover they can't afford to live there anymore. This is what happen in the US during 2007. 'It can't happen to us' & 'this time it's different' - heard it all before."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Old Greg View PostYes and no. There is the opportunity cost of being able to buy it cheaper in a year's time, if you can time the market right...Comment
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Originally posted by PCTNN View PostIf you're buying a house to have it as your home, a home that you'll keep for a long time, you don't give a crap about how much it's going to be worth in say 5 years.
Normal people don't always see everything as an investment in which you absolutely need to have a return.
People buy houses because they need houses.Comment
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Originally posted by scooterscot View PostLet me get this straight... Save on stamp duty now or buy same property with stamp duty after 40% correction. Decisions decisions....
Originally posted by scooterscot View PostNot really - lay house price action over gold price, the relationship is full
If deflation comes, I'm 90% certain it will, we'll having crashing prices and a BoE losing the fight to keep interest rates low. Can't wait.
"Another important insight is that total returns on residential real estate are on a par with the returns to equities—on average about 7% per annum—but they are far less volatile."Comment
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Originally posted by TheGreenBastard View PostThe former is tangible,the latter I suspect will play out as fantasy.
Seemingly fantasies can become true. Welcome to fairyland."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostLondon is not the UK.
And use a log chart, numpty.
Why don't you show us your chart? We could do with one of those.Comment
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Originally posted by TheGreenBastard View PostThe former is tangible, the latter I suspect will play out as fantasy.
Institute for New Economic Thinking
"Another important insight is that total returns on residential real estate are on a par with the returns to equities—on average about 7% per annum—but they are far less volatile."
A 25 year repayment mortgage on the full value of my house would be cheaper than renting it, and rents are likely to go up over that period.Comment
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Originally posted by Old Greg View PostYes and no. There is the opportunity cost of being able to buy it cheaper in a year's time, if you can time the market right..."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Old Greg View PostFor the average punter, there is also utility - you live in the house.
A 25 year repayment mortgage on the full value of my house would be cheaper than renting it, and rents are likely to go up over that period.
Us Europeans are baffled by Brits having to renew every few years."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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