Saturday, Apr 26, 2008
Only aliens can save the BTLers now
FT: Merryn Somerset Webb: Rescue rumours require a reality check
"Anyone who thinks that the worst is past is surely living in the same fantasy world as some of the residents of the Aude: still to come are the bankruptcies, repossessions and rises in unemployment that will follow the end of the housing bubble."
Posted by letthemfall @ 10:36 AM (788 views) Add Comment
7 Comments
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1. taffee said...
good article that.....just about sums the situation up.
2. Lasertrip said...
Merryn's a great columnist. Does anyone know why I can no longer find her columns in the evening standard?
3. Jayk said...
I do like MSM but let us not forget that this highly popular and oft-quoted and -referenced - here and elsewhere - Sage of the City assuredly called the end to the house price boom in 2004. And what happened over the following three years?
Goes to prove that we only laud and listen to those who tell us exactly what we want to hear........
4. doom&gloom said...
"I had a miserable e-mail from an international banker this week. Having failed to put his Notting Hill flat on the market last year when the asking price would have been £1.1m, he has now had to put it on at £995,000. So he’s already lost at least 9 per cent in sterling terms"
My heart goes out to the poor chap. What a 'loss' that is. W**ker
5. jack c said...
................."aliens who live in the many caves underneath Bugarach" - news to me, I thought the only aliens living in caves are located in area 51, could be a bit of a Grey area and I stand to be corrected.
6. Guyfawkes Said. . . . said...
Live long and prosper.
I think this link answers all our questions.
http://www.youtube.com/watch?v=3SAbJjktk7E
7. wiltshire said...
So a wealthy international banker failed to judge the temperature of the housing market. Ha! That'll teach him.