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SwampDonkey

Pretty Pictures Showing How Fooked We Are

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Surely the figures just pander to the idea that you are cash rich if you own a house. You only become the holder of the money when you sell, so most people have not "lost" money on their houses, any more than they gained since 2000.

It just goes to show the strength of the idea that high house prices = wealth. Stupid really.

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Surely the figures just pander to the idea that you are cash rich if you own a house. You only become the holder of the money when you sell, so most people have not "lost" money on their houses, any more than they gained since 2000.

It just goes to show the strength of the idea that high house prices = wealth. Stupid really.

Was just discussing this in the office. If someone bought their house for say 200k and it rose to 250k in the peak and is now worth 210k how can that be added as a 40k loss.

Pretend money that never existed in the first place.

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Was just discussing this in the office. If someone bought their house for say 200k and it rose to 250k in the peak and is now worth 210k how can that be added as a 40k loss.

Pretend money that never existed in the first place.

Very bad use of the word "wealth". Wealth is not money, it means something else.

A house is still a house even if when converted into currency you get £35000 less for it. So I don't see how this crash has affected most people's "wealth".

People need to see "money" for what it really is. It's a resource that can vary in value. It is also just an electronic record held at a bank, representing a promise from the bank to yourself to pay you cash, which is in itself an empty promise from the government. Money is not necessarily wealth.

Wealth covers a number of things including assets, friends, family, knowledge, skill and indeed to an extent, money.

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Very bad use of the word "wealth". Wealth is not money, it means something else.

A house is still a house even if when converted into currency you get £35000 less for it. So I don't see how this crash has affected most people's "wealth".

People need to see "money" for what it really is. It's a resource that can vary in value. It is also just an electronic record held at a bank, representing a promise from the bank to yourself to pay you cash, which is in itself an empty promise from the government. Money is not necessarily wealth.

Wealth covers a number of things including assets, friends, family, knowledge, skill and indeed to an extent, money.

+1

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