Saturday, 26 January 2008
Bricks and mortar
Housing slump or not I have a couple of tentative offers on two properties for sale in U.K. Problem is..offers are still below what I am prepared to accept...what to do? The news from both here(CA) and U.K. is of non stop economic turmoil and imminent recession ,not exactly a stable atmosphere in which to make rather important financial decisions. To be able to buy and start a project here and over the water in England means I'm going to have to take the best I can get for the properties and hope to make up the shortfall on future projects.Over the last ten years everybody has taken for granted that their house would rise in value every year...well folks..the party is over..and if you bought something you can no longer afford...then tough luck....that's a fact of economic life that needs to hit home for many.The Democrat party here (plus various Reps) seem to think though, that making the wrong decision in house buying is a reason for the govt to bail you out...why?...if I go and buy the Bentley continental I like and cannot afford the payment's is Hillary et al going to bail me out?...whats that?....if it will buy votes!...alright!....vroom vroom!