Jezza's Magic Money Tree Is Flourishing...........

[ToraToraTora]

http://www.bbc.co.uk/news/business-42904875
If only he could get into the orchard to pick the fruit eh!

[jno]

jsut shows how property prices are soaring: people become millionaires without doing a thing (I'm one of them).

[mushroom25]

//At least the young's pensions will be pretty large by the time we're old! (I'm in my 20's and i'm already paying in) //

only if you have a defined benefit pension could that be guaranteed, and they're rarer than rocking horse poo now. the value of your pension will depend on investments made by your provider. let's hope they weren't in carillion or capita.

[jno]

stands to reason that as money is worth less, there will be more millionaires. That would be true even ignoring house prices; but the average home in London is well over £500,000.

[Gromit]

So peoples’ homes have inflated value wise.

How is that a cash stream for the Chancellor ?

How does a future Labour Government benefit from people living in an appreciating asset ?

Daftest spin in a question in ages.

[ToraToraTora]

Gromit the article is about how many millionaires there are, others have chosen to bang on about property. Anyway socialists have always been very creative at extracting other peoples money to spend.

[Gromit]

It is a material asset. The money is in effect locked, and cannot be got at until the property is disposed of. So it cannot be taxed directly.

[ToraToraTora]

again, I did not mention property

[cassa333]

I bet a fare few of those new millionaires are on the list because they bought thier council house for a snip and it is now worth half a mill or more.

Assets are not the same as cash. A pensioner living in a 'modest' Victorian villa worth many hundreds of thousands of pounds might be brassic on only the state pension.

[emmie]

cassa

exactly right. You can be in a million pound property but like me be on benefits. Its the way this idiot market of housing is going.