Wednesday, 29 July 2009

House Prices Up

No joy here.

The explosion in house prices has meant that most younger middle or upper-working-class people stand no chance of living out the middle-aged peak of their powers in properties remotely resembling the ones in which they grew up.

"Bricks and mortar" do not, at least ordinarily, constitute an "investment". They constitute a place to live.

4 comments:

  1. JohnJGMooney29 July 2009 23:18

    Good to see you back.
    Exactly 100% right on this one.
    I have achieved a Cassandra like reputation for notifying anyone who would listen that a collapse was about to take place.
    How I and probably you saw it but the finest minds in the City did not......is truly amazing

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  2. "Bricks and mortar" do not, at least ordinarily, constitute an "investment". They constitute a place to live.

    Strictly speaking, they can quite easily constitute both at the same time. It is quite normal for items to have a current use as well as a future sale value, enabling them to be simultaneously an investment for the future and a benefit here and now.

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  3. sorry to go off topic, but you MUST see this:

    "We might, in fact, be witnessing something even more fundamental – no less than a dress rehearsal of a future Labour leadership contest. As we report today, senior supporters of Tony Blair are urging Lord Mandelson to take advantage of upcoming legislation that allows peers to resign from the House of Lords, and search for a safe Labour seat at which to fight the next election. A possible constituency has even been mentioned: the North West Durham seat currently held by Hilary Armstrong, the former chief whip, which enjoys a Labour majority of more than 13,000. The Business Secretary is said to be intrigued by the possibility, at the very least."

    From the Daily Telegraph.

    How do you fancy going up against Mandy???

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  4. I'd relish it, Sam.

    But I also have it on good authority not to take this one too seriously.

    Still, as I say, I'd relish it. And I'm standing no matter who else is.

    ReplyDelete