It is almost as if, the value of property is set entirely by availability.

I am getting fed up with the expression "No one voted for a worse economy" etc. If house prices dropped by 1/3 but wages only came down 15% then many people would benefit. Although I own my bungalow a price drop would make a bigger one that much cheaper. Obviously the over-indebted wouldn't benefit at all.

Posted by tenyearstogetmymoneyback @ 09:11 PM 14 Comments

I like reading about Crispin Odey, because he shares my opinion (or more accurately I share his I suppose), and he is also entirely wrong about timing. This year however his trades are making money. He has, however, an -extremely- negative view of the pound and I wonder can it really be true. After so much devaluation of sterling, can we really be going in for another batch? Is there no end to devaluation for the uk its getting ridiculous.

More and more price reductions. I guess sold prices to follow shortly. I loved the estate agent's reduction strategy though :) Good time for cheeky offers.

I don't know if this is the response to the falling market or a shift to online agents. What's more confusing is that they have closed their Enfield branch...

The Wilsons failed to comply with a court order requiring them to fix a disabled tenant's boiler. Judith must now reveal her financial situation so that the court can impose a (potentially unlimited) fine. It is so Judge Barron can get a better picture of her wealth before sentencing – including assets, banked money and joint accounts. The ruling will “accelerate the rate” tenants are evicted as the couple look to sell up their housing empire, Mr Wilson said. "It means we will be selling more properties," he said. "We were selling up anyway because of our age - I could drop dead tomorrow. “We won’t put all the homes on the market at once because that would mean house prices will drop.”

Posted by little professor @ 03:06 PM 9 Comments

For all the talk of a correction, you have to wonder if Stockman is right and there is a "doozy" of a yield shock on the way that is going to push rates up to 5%, inevitably the UK would have to follow to some extent. Carney seems to be boiling the frog devaluing the pound but can he ignore? Certainly interesting times particularly if you have been convinced it all ends in tears for a decade....Deutsche bank on the brink, Italian government IOUs seem to be the Italian banks entire capital base, foreign holdings of US treasuries going down. Do we find, in the end, that the banks have once more lost the lot.

Posted by stillthinking @ 02:37 AM 9 Comments