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The Next House Price Leg Up?


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HOLA441

While the goldbugs are right about money dying, what they have failed to realise is that debt, under the right circumstances (e.g. being perpetually rolled over using an irredeemable currency), never dies. Assuming this configuration stabilises gold will also stabilise as an asset class, somewhere in the region of 300 loaves of bread. Sometime after that I imagine gold would then be only bought for jewellery and ultimately be discarded as an asset class altogether.

As long as rich people around the world use gold as a store of wealth it will always at least maintain it's value, it's also much easier to store than cheaper metals. Though silver would be a good gold alternative. I don't agree with your analogy that gold will be worthless because of it's utility value perhaps being lower than price.

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HOLA445

40yr mortgages are already here in the UK.

I know some friends who bought when they were 23yrs old. Took out a 25yr mortgage in the 80s. A few years ago, they traded up and to make the next step, extended their mortgage. By the time they pay it off, he will be 65 and will have been paying a mortgage for 42yrs.

Other friends who bought in the 80s have done the same. I don't know anyone who has paid off their house yet.....

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HOLA446

40yr mortgages are already here in the UK.

I know some friends who bought when they were 23yrs old. Took out a 25yr mortgage in the 80s. A few years ago, they traded up and to make the next step, extended their mortgage. By the time they pay it off, he will be 65 and will have been paying a mortgage for 42yrs.

Other friends who bought in the 80s have done the same. I don't know anyone who has paid off their house yet.....

:blink::huh:

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HOLA447

If a 22 year old could take on a 40 year mortgage for a family home (rather than a two-bed terrace) and work until 67, isn't that similar to how things were until recently?

Possibly, but trends show that people's working life span is shortening.

At one end, there is steeply rising youth unemployment and the lengthening time for even grads to get a job. At the other end, statistics show that over 50s are increasingly becoming no-hopers and joining the long-term unemployed.

If you want to throw another statistic in, there's the ever rising average age of the First Time Buyer. What is it now, 38 or something daft?

I'd say the idea is completely disconnected from reality, but then I'm not an 'expert'.

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