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Father Fred

Semi-serious Suggestion

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The British don't like talking money with friends and colleagues, but house price rises are always up for discussion. A lot of what we hear is 'my house is worth x amout' - and we certainly hear more of this than we hear 'my house is worth £10k less than last year', people don't tend to shout that so often.

How about a new law? If you mention the value of your house then you have to also say -

1) How much money you owe on it

2) What income multiple the mortgage equates to

3) The amount of the mortgage that represents MEW

4) The rental yield at current price

If you can't or don't answer those questions then simple as... you get marched down to the viallge green and face 48 hours in the stocks. Or should I bow to my kinky side and suggest 20 strokes of my finest cane!

FF

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And if you mention that prices only ever go up, you are giving financial advise, and must be regulated, and must state the disclaimer:

Prices can go down as well as up in real terms. You may not get back what you invested.

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And you are never allowed to be able to look down your nose at someone who is in no more debt then an irritating overdraft and claim to be richer because you have a small flat and a new shiny car and about £170,000 worth of debt when you only earn about £20,000..

Actually that used to happen.. that happens less and less..

Infact I was sat by Mr Smug the other day commenting on my new bike..

"How much does that cost a month...?"

I reply "What do you mean.. a month...?"

"In Finance...?" he asked..

"Its not a new bike.. I saved and bought it in cash.." I replied

"Why Didn't you get a new one?" He asked..

"I couldn't afford one.." I replied

"Thats where the Finance comes in... People look at you and see an older bike..!" he looked smug..

"People look at me and see someone who has paid for the things he owns.... already.." I lied heading to the bar to buy a couple of drinks on my overdraft..

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The folk in this country are financial uneducated.

Which is good.

We all cannot be savers ??

One persons loss is another persons gain.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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