The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 663
There are other amusing variations too. But none of Al Greenspan, Fannie Mae or Freddie Mac believe in any of them, so all is well in the best of all worlds.
My take on house-price inflation is that I earn zip from it. I have a House Pictures that I live in. If I want to move from it to another house then (unless I move to an area or a country where house prices are much lower, with all the problems that that implies) the price of the house I buy will also have appreciated by approximately the same amount as mine has. Net profit is zero (less than zero, once the commissions from the intermediaries are taken into account).
The 8008 was: Blinky lights WAS: The SR71 Blackbird was designed ENTIRELYwith slide rules 664
Colonel Forbin" wrote ... Home mortgage lending loss rates are considerably lower than the loss percentages on...
I could take a cash profit by buying a cheaper house, but I might not like to live where the cheaper houses are.
Another way to take a profit is to swap a lifetime lease in return for an annuity. You have to be older and fitter than I am for that to beat the actuaries.
Otherwise, it's just down to feeling secure that you own your own house. I know that there are those who like to gamble that security. I don't.
Oh, there's buy-to-let as well. Don't get me started on that.
Giles -- Keep buying, whatever the price! There's always a bigger fool who will pay more than you did.