Friday, Feb 19, 2010
My house is still my pension, innit??
Moneywise: The top 10 things that can devalue your home
For a property-obsessed nation with ever-shrinking pension pots, the value of our homes is understandably high on the agenda.
Posted by mr g @ 12:47 PM (964 views) Add Comment
4 Comments
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1. Si said...
If the "Baby Booming" started in 1945, they're all gonna start turning 65 this year. When will they cash in their "pensions"??
2. alan_540 said...
The top 10 things that can devalue your home? Gordon Brown.
3. mark wadsworth said...
Well, yeah, people say that there house is their pension, right up to the point where they have to sell it to pay for their own care, and then whine that they want to pass it on to their children and so are against inheritance tax.
As it happens, I'm against inheritance tax - land value tax is far better, but it's the hypocrisy that bothers me.
4. mark wadsworth said...
If you scroll down to the end of the article, you find this...
Five factors that will boost your home's value
• Better transport links: A new Tube or train station, which provides easier access to a city centre, could add thousands to the value of your home
• Perfect neighbours: Vigilant neighbours not only make for a well-kept street but provide extra security for your home - all factors which add value to your own home when coming to sell.
• Good results at the local school:
• An official accolade: When a city has been given recognition, such as Liverpool's Capital of Culture in 2008, it sees a boost in investment which often translates into inflated house prices.
• A major sporting event: With East London hosting the Olympics in 2012, surrounding properties witnessed a 15% rise in value before the property crash, according to Halifax.
Now, to the extent that these five things are down to the government (whether in spending more or spending wisely), is it not fair to expect property owners to pay to the government in exchange for doing whatever it is the government does that increases property values?
Which is a job for Land Value Tax Man.