Pinnochio's Nose Grows Longer

[A Fool & His Borrowed Money]

http://money.guardian.co.uk/businessnews/s...1510743,00.html

Choice quotes Follow:

But the difference between buying and renting a home is now at its lowest since the group first began researching the figures 10 years ago

London is the most expensive region in which to rent or buy a property, but it is still £25,100 (4%) cheaper to buy a property there than to rent

Definitions follow for the sheep:

Definition

lie (SPEAK FALSELY) [show phonetics]

verb lying, lied, lied

to say or write something which is not true in order to deceive someone

Definition

deny (NOT ADMIT) [show phonetics]

verb [T]

1 to not admit that you have knowledge, responsibility

Definition

vested interests [show phonetics]

plural noun OFTEN DISAPPROVING

people or organizations who have a financial or personal interest in a business, company or existing system

Hope this helps!

[gone west]

Of course they are right! It is (just) cheaper to buy a bedsit in Peckham than rent a 2-bed flat in Kensington. It's all London.

[OnlyMe]

But the difference between buying and renting a home is now at its lowest since the group first began researching the figures 10 years ago

If that's the case then rents have a lot further to fall than already I think, as it is plain as a pikestaff that with falling transactions, rising repo's and burgeoning sales lists that a growing number of people cannot afford to buy and if they cannot afford to buy they cannot afford to rent either.

Edited June 20, 2005 by OnlyMe

[NJP]

Over the last 25 years, it probably has been cheaper to buy than rent, due to high inflation. And it may well be over the next 25 years on average.

However, that doesn't make now a good time to buy, when rent is a mere 60% of mortgage payments.

This is just lazy journalism.