Money for Nothing and your Cheques for Free...
Blogged by James Preece on 10th June 2008
Buying is dead money...
According to the Halifax, house prices fell 2.4% in May.
All the houses around us, the ones with luxuries (we are spoiled brats after all) like windows and floors, cost about £125k for your basic 3 bed terrace. This is Hull after all. Down south they are going for more.
By not buying a £125k house last month, we saved ourselves nearly £3000. Oh sure... we had to pay rent. But we don't pay £3000 in rent! Even if we paid £1000 a month in rent... and we don't... we saved £2000 last month.
Next month, we will save more...

This is not grim news. This is great news.

















Reader Comments
Elizabeth said...
Indeed house prices are too high and need to come down. According to the Economist of april 10th: "The International Monetary Fund reckons that Britain's house prices are almost 30% higher than can be explained by fundamental factors such as disposable income, interest rates and the size of the working-age population." (http://www.economist.com/world/britain/displaystory.cfm?story_id=11024646)