What is your biggest problem you want solved ?

[jonwell]

let's have some of your questions....

 

[reynolds]

let's have some of your questions....

The biggest problem for is the wife. CAN YOU HELP ME!!!

 

[Lysos]

Jon,

Whilst I generally concur with your views of the market (well supported by my favourite magazine - 'Money Week'),there is no need to put identical posts on every forum; in fact, it's rather irritating.

 

[jonwell]

lysos
really sorry, i will try not to,
i have just been on my dubai thread and believe me they i don't think they have a clue may be you could join me in their and give your opinion.

lysos i try to give out the info evenly and sometimes i find it relates to all topics in this forum.

hey least we share one thing...together...

 

[jonwell]

reyonlds you haven't told us what's up with the wife were here all to HELP and i am sure we can solve your problem....

 

[Lysos]

Yes, Jon, your views do, in my view relate to ALL so called property investment markets; it's just not necessary to 'over egg' the argument. On a a slightly different tangent I would like to know the true extent of money lost by British buyers (no, they are not investors, whatever they might think) on speculative buys in Bulgaria, Dubai, Morocco, Egypt, Turkey, Spain, Cyprus etc. etc. The true cost must be astronomical.

 

[jonwell]

lysos
so do you think were going to have a second credit crunch considering other new european countries have borrowed up the neck and while their currencys are fading away against the euro it willbecome more expensive for them to service the debt.....
what do you think ?

 

[Lysos]

No, Jon,

I don't expect a second credit crunch - simply because we haven't seen the end of this one. The mortgage crisis in the USA has another step to go, when those who could pay, but are on self cert, find they can't pay. Remember, mortgages in the States are non recourse loans. As for the UK, property prices are still not affordable, so will drop further. Lending critria wiil revert to my youth (no bad thing) when you had to save with an institution for several years before you would be considered for a loan. The recent FTSE recovery is unsustainable; UK plc is bankrupt and we have no manufacturing base or natural resources. Eastern European countries bought in hard currency they cannot repay. Naive 'innocents abroad' bought ridiculously overpriced properties in places as diverse as Bulgaria, Egypt, Dubai, Morocco, Latvia etc. without knowing what they were buying into or doing the most basic research. E.G. what is the length of the ski season in Bulgaria's (low level) resorts ?. 10 - 12 weeks, so even with max occupancy your return is negative; year round resort - an investing myth. As I asked elsewhere, what is the true figure of money lost by Brit (& Irish investors) in these places.

Incidentally, did buyers from other countries rush headlong into these disasters ?.

People need to realise, the unthinkable can happen; there are no sacred cows. The Sunday Times recently ran a well balanced article postulating that British Airways could go under. Can't happen ?. Remember PanAm, TWA, Swissair, Alitalia, Sabena (Iberia next),SAS on the brink.

Our parents prudency was wise; don't spend what you don't have or can't afford to lose.

Finally, a fact I still find almost impossible to comprehend - the NHS is the third largest employer in the world !. Explain the economics behind that !.

 

[Mac29]

Hi I really confused about my property management contract. I have paid the management fees up front and I'm happy to pay quarterly up front for bills but my agent states I have to pay the whole year up front or I can be sued because he has invoiced me for the whole year. Is this correct?

I don't want to send too much money overseas as if the agenct goes bankrupt or disappears you still have bills to pay and you have lost money.. any advice available out there.