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Real Estate Crash: Get over the house price obsession

Posted December 20, 2007


"I am sure that about twenty or thirty years ago we just took a passing interest in the price at which the house next door was sold… But now you would think that the whole world depended on it." — Tom Bulford.

Blogger's Note: Our friend Tom Bulford from MoneyWeek published a good article on the current housing price mania. The United Kingdom is as preoccupied with its real estate market as those of us on the other side of the Atlantic. And we thought you'd appreciate a new perspective on the topic. Find the article right here: It's time this house price obsession ended or you can read on below.

by Tom Bulford

Baltimore and London – (TFN) Wow! Aren’t you just about fed up with hearing people talk about house prices?!!!

And I don’t mean people sitting round the dinner table going on about how they bought this nice little Victorian villa for £275,000 – and now it is worth £400,000!

I mean the professional commentators. Every time you switch on the TV or turn on the radio or pick up the newspaper there is some talking head giving his two pennyworth.

I am sure this did not used to happen. I am sure that about twenty or thirty years ago we just took a passing interest in the price at which the house next door was sold, got a little whim of satisfaction and then pressed on with the important things in life. But now you would think that the whole world depended on it.

Is this unhealthy? You bet it is! It reflects several things. Read on here to find out why we're obsessed with home prices and what the future holds for real estate in America and the United Kingdom.

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Posted by TFN-Real Estate · Filed Under Real Estate 

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