Originally posted by DimPrawn
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House market bounce?
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Originally posted by DimPrawn View PostExactly. Banks create the money (fractional reserve banking), so it's effectively worthless. You take something worthless and exchange it for a massive family home set in 5 acres. Who is the idiot, you or the bank?Comment
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Originally posted by Andy2 View Postyou . Because you will pay monthly payment for the next 20 years from your hard earned money to the bank who created it out of thin air .
And now banks might pay people to get a mortgage.
Which is nice.Comment
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Keep on bouncing baby!
I remember having a mortgage. That was a while ago.…Maybe we ain’t that young anymoreComment
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Originally posted by Andy2 View Postyou . Because you will pay monthly payment for the next 20 years from your hard earned money to the bank who created it out of thin air .
Or, pay rent, and never own the asset?
The only logical thing to do is borrow money at near zero interest rate and buy physical assetsComment
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The house market where I am (Edinburgh) slowed down for like 2 weeks at the beginning of the pandemic, then it came back stronger than ever. Prices never went down at all.
I noticed 2 main differences from say 6 months ago:
1) more and more properties now get sold just on the basis of a virtual viewing. Buyers make offers without doing viewings in person, which sounds crazy to me.
2) properties in villages outside the city centre (up to 1h away by car) have become just as appealing as properties in the city centre. Prices are going up a lot and properties in the outskirts with a nice garden are going REALLY REALLY fast.
It can't go on like that. This bubble MUST pop soon.Comment
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Flats in busy city centres, houses with no or tiny gardens in large towns....big downward price pressure.
Houses with very large gardens away from crowded town centres, houses near national parks or the coast, farms, will go up massively in value.Comment
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Originally posted by AtW View PostThe good times will never end
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Originally posted by PCTNN View PostI noticed 2 main differences from say 6 months ago:
1) more and more properties now get sold just on the basis of a virtual viewing. Buyers make offers without doing viewings in person, which sounds crazy to me.…Maybe we ain’t that young anymoreComment
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