Monday, May 28, 2007
Costa Thames, Leeds, nottingham etc.etc.etc.
Daily Mail: Costa catastrophe
"When Steve and Cate Biddle attended a seminar run by property expert Inside Track, they thought they had found a way of paying off their mortgage before they retired in five years' time. It did not work out like that. This week they will put their home on the market in a desperate attempt to clear their debts."
Unfortunately for Steve and Cate might want to read the following "This increase [in homes for sale] comes at a time when there are signs of wavering demand in the face of higher interest rates," said Richard Donnell, of Hometrack. "And it raises the question as to just how saleable these properties will prove to be."
Oh dear, we shouldn't have been so greedy should have we!!!!
Posted by cheeky charlie @ 10:54 AM (196 views) Add Comment
5 Comments
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1. sovietuk said...
Ho Ho Ho, interest rates on the upside here, houseprices (without London Mayfair distortion effect) stagnant or falling, Spanish prices going into reverse, it's all going wrong, boo hoo hoo. Tough sh*t, welcome to reality.
2. Scott said...
All of this time waiting for prices to drop and it seems to have started without us. Cool.
3. shipbuilder said...
These people have been shafted - unfortunately we'll see a lot more stories like this soon.
4. japanese uncle said...
What has this 51 year old man learned through all his years as police officer? Pathetic!
5. royston said...
My gut reaction is to laugh. But on reflection, these people just wanted to accumulate a little capital and retire - that's not a crime and it's not particularly greedy. They are perhaps a little stupid. I never trust the people giving investment seminars - if their strategy is so good, why aren't they out there trading/investing? If I had a foolproof money-making strategy, I wouldn't be keen to tell everyone. Unfortunately, the only foolproof way I know of making money is giving seminars to gullible people on how to make money, and I just don't have the stomach for that!