Tag: halves every 10 years

There's a lot of talk about ground rent of £250 in 2010 becoming £10,000 in 1960. Really? If ground rent doubles every 10 years it becomes £8000 in 2060 but worth only £2159 in todays money at an average inflation rate of 3%. That's still outrageous of course - about 8 times the original ground rent but it's a long way from the £10,000 with which the news media are frightening people! There was a time when inflation did effectively halve the value of money every 10 years. For example, Read more [...]