Re: has the price of your house fallen?
Originally Posted by
Bruce
->
Why? what does the value of your house matter as long as you have no mortgage? Whether it is worth $100 or $1000000 it will cost the same to buy another, it's actual value is meaningless. Investment properties are a different matter but the house you live in? Nah!
The only figure I know is that I paid $47000 for my shack nearly 40 years ago (and paid it off within 9 years) since I bought it I have absolutely no idea of its value or any price fluctuations. The only people the value will mean anything to are my kids when I am past caring.
Some of us might be planning one more move before we are too old.
Our place has gone down by about 2% per year for the past 3 or 4 years, according to Zoopla. When there's a recession, crunch or whatever, London property prices are the first (in the UK) to drop, and the first to rise as a new cycle begins.
I reckon we could move to the sticks when our London house price is on the rise, to a place where prices will still be falling. Think of the bargaining power. It's about more than supposed prices/values, it's about demand.