From: "Stephen Burke" 
Newsgroups: uk.finance
Subject: Re: Interest only mortgages
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Date: Sat, 16 Aug 2003 19:36:03 +0100

Tim  wrote:
>>> So, the house that granny/grandpa bought in 1920 for a few guineas,
>>> should now be worth less than that - just a couple of pennies?  I
>>> wouldn't have thought so!
>
> "Stephen Burke" wrote
>> But how much has been spent on maintenance in that period? If it's
>> nothing the house is probably derelict ...
>
> Even if it were derelict I'd expect the *land* to have appreciated in
> value ...

Maybe, maybe not. If a house really has been left to go derelict the chances
are it's because the land is worth pretty much nothing - in Liverpool there
are lots of nice-looking houses which have just been abandoned (or at least
there were in the early 90s).

-- 
Stephen Burke