Friday, Apr 25, 2008
This is a tragedy. An entire country conned into property investment!
Times: Rugby players feeling the crunch as property investments tumble
"some of the game’s finest players have taken a hit in the property market hard enough to make even the stoutest second-row forward double up with pain" lots of muscles but little brain "Vainikolo has invested in a couple of properties in the southern hemisphere and a couple in Britain. “They like the touch and feel of property, they understand the mechanics of it,” Mr Battersby said" Battersby and his cronies should be jailed!
Posted by confused76 @ 10:48 PM (415 views) Add Comment
3 Comments
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1. bystander said...
Interesting that half of those mentioned at the bottom oif the article are involved in football. Don't really get the connection to Rugby players and property, when the richest sportspeople are soccer players and have amassed much larger property portfolios than other sportsmen and women. Would not Robbie Fowler, Alec Ferguen etc. also feel the crunch as property investments tumble? I mean Simon Shaw has just finished renovating a property in London, what a waste of good ink.
2. drewster said...
It's not just rugby players. Sportsmen and celebrities of all shades have been investing in property because it was the done thing. Most of them have a limited career span so it's important for them to invest wisely.
That's where my sympathy ends. Footballers, rugby players, and all the rest earn a shed-load of money. Many of them hang out with other celebrities and some even indulge in illegal drugs. After their 10-15 years on the pitch are over, they could just get a regular job like the rest of us rather than expecting to live off their BTL flats for the rest of their lives. Boohoo, some rich people are losing money.
Here's another piece of rampant property pumping from the Times:
Times: Footballer scores with property (30th March 2008)
Matthew Upson, 28, has played football for England and is a defender for West Ham United.
How much did you earn last year? I made well over £1m from my current football contract.
Are you a saver or a spender? I like to splash out occasionally. I bought a silver Aston Martin nine months ago for £120,000 – it’s beautiful.
Do you own a property? I live in a five-bedroom, detached house – a new-build, Georgian-style property with a bit of land. It cost £1.5m about nine months ago. I also have a two-bedroom apartment in central Birmingham. I’ve had that for the past five years. I bought it for £360,000, but it’s now worth about £350,000. There’s been a lot of redevelopment which has attracted buyers but the market’s saturated, especially for apartments like mine. I’m thinking of renting it out.
No sympathy!
3. A Saver said...
Probably these guys were advised by IFAs - I consulted two last year who both told me to invest in property funds, so I decided to do my own thing.