Thursday, November 13, 2008

... or how about some Tugriks?

If you're the kind of person who relies on BBC News to keep you up date with what's going on in the world it may have escaped your attention that sterling is in the process of being ritually slaughtered in the world's markets

Lord Patel has chosen to illustrate that slaughter by posting a UK £ / Singapore $ exchange rate chart

Personally, I've always been more of a Mongolian Tugrik kind of guy




In a world filled with competing currencies that are steadily turning to shit, the mighty British pound can hold its head up high as being one of the very shittiest


If you live in the UK and were planning to buy any Christmas presents made in the US, Europe, the Far East ...or Mongolia ...or anywhere really, they just got 4% more expensive today alone


(Why foreign investors aren't falling over themselves to buy sterling so that they can invest in quality, bargain-priced properties like this is a complete mystery which defies all rational analysis)

.

17 comments:

The Underdoug said...

(Why foreign investors aren't falling over themselves to buy sterling so that they can invest in quality, bargain-priced properties like this is a complete mystery which defies all rational analysis)

I used to work in Raynes Park.

I am not surprised at all.

Anonymous said...

In the city, off the grid
'I had a house ... I don't need all that'

Six years ago, Glendale Stewart took a look at the world around him and decided to drop out of it. He quit working, bought an empty plot of land at a city auction, parked an old trailer on it, built a wood privacy fence around it and made it his home.
.....

He's immune to power outages, indifferent to rising utility costs, oblivious to gas prices. He has no plumbing to bring water, no gas lines, no electric or cable wires streaming to his place. Mail never arrives because he gets no bills. He has no car, only a bike. He is on his own, under the radar, outside everyday concerns.

"It was for financial reasons, mostly," he says of the decision to set up his unique homestead. "I was renting and then the guy sold the house, so what can you do? This other guy wanted to charge more, and he wanted to make some changes to the house and rebuild the house on the inside."
....

paul said...

With the drop in base rates and the effective rise in mortgage margins, somebody buying that pile of shit could make a financial institution a decent amount of wedge over 25 years.

We really must kickstart the property market

Stef said...

On top of that, I suspect a few largish scores are in the process of being made over a considerably shorter timescale

Stef said...

...and Glensdale's a hero. His fence, in particular, is a work of art

not anonymous said...

That has to be the ugliest fuckin house I´ve ever seen.What a pile of shit and over 300,000.In Germany if you could find such an ugly building you would pay 80,000 max.

now here is what you call a real house,,,my cousin was looking at this last week.

http://www.myhome.ie/residential/search/brochure/dalligan-house-stradbally-waterford-co/QQBSR373664

a bit pricy at 1.5 mill €€€€ssss

Here is one not far from us

http://www.ksk-immo.de/immobilien_db/objekt.php?objekt_id=668&navid=3

yours for 133,000 quid.Note the size of the land its on,,,3500 sq mts,,,guess what,,nobody has snatched it up!!no kidding its been up for sale for nearly a year.

Illustrates nicely the sate of the fucked UK housing market.

I´m tellin you here in North Germany you can buy a palace for 300,000 quid.

Have a look for yourself.



North Germany property

not anonymous said...

sorry the link didn´t work
Dalligan House, Ballyvoyle, Stradbally, Co. Waterford

now here is what you call a real house,,,my cousin was looking at this last week.


a bit pricy at 1.5 mill €€€€ssss

Stef said...

That has to be the ugliest fuckin house I´ve ever seen.What a pile of shit and over 300,000.In Germany if you could find such an ugly building you would pay 80,000 max.

Investing in a property in Raynes Park, and the SE of England in general, is about a lot more than mere bricks and mortar

It's a lifestyle choice

A mere 300,000, virtually free, pounds is a small price to live The D:Ream

not anonymous said...

"It's a lifestyle choice"

which confirms my belief that the majority of people are insane.

being in the building trade myself It has been obvious to me for a long time that most people in the UK know fuck about the value or worth of property and have been getting ripped off for a very long time by overpriced poor quality houses that you could not swing a cat in.A big part of the problem of course is that people in the UK bought property to make money off whereas on the continent your average joe blow buys a house to live in.

Stef said...

which confirms my belief that the majority of people are insane

I'm afraid so

and that's why taking a leaf out of Orwell's or Glendale's (^^^) book and fucking off and living on an island or in a knackered caravan behind a comedy wooden fence does have its appeal

paul said...

have been getting ripped off for a very long time by overpriced poor quality houses that you could not swing a cat in.

Whereas in america they 'invest' in glorified garden sheds which, while more than big enough to swing a cat, you'd better not let go or you'll lose a wall.

Stef said...

In Russia they swing two cows

not anonymous said...

It´s an interesting thing property,,in North Germany land and houses are very cheap.As my link illustrates.I asked my wife about this.Her reply was that Germans are dying out.More people died than were born last year.unemployment in the North is high, prospects few and far between.
There is no housing market as such.The house I´m in we paid 280,000 Marks 12 years ago.If you could sell it you would be lucky to get 160,000€s for it.
Not many people wish to live out in the "land".

Another big difference in Germany is that private built houses are done by small firms.You want a house.You buy the land they build a house which is why you also find some many different types of houses.No mass developments here.In the UK large developers buy up large chunks of land,squeeze as many objects on to them as possible build them as quickly and cheaply as possible and sell them on to the gullible.
You won´t many if any, stud partition walled boxes around here.All good solid brick walls mate!

Stef said...

A few years back I was driving along a highway in Alabama when I passed a place that advertised repossessed homes for sale

The reason why I mentioned it is that they really had physically repossessed homes for sale - out in the back yard laid out in neat lines. Like those shots of mothballed aircraft in Nevada

In general, abandoned, poorly constructed property is quite a common sight along roadsides in the Southern States; dating to long back before the current outbreak of Shenanigans.

Considering they live in a country with so much evidence of the impermanence of houses and their value, the Americans really did go mental

Not as mental as the UK though. The US controls the cruise-missile backed (much more interesting than boring old gold) global reserve currency. We have no such aces up our sleeve

paul said...

In the UK large developers buy up large chunks of land,squeeze as many objects on to them as possible build them as quickly and cheaply as possible and sell them on to the gullible.

In fairness to developers (even though they're all cunts), land is expensive here, and taxation policy encourages councils to load developments up with so called 'planning gain'.
The collapse in property is going to throw a lot of council plans out of kilter, as that golden goose has laid its last.
All just components in the neoliberal vice.

Stef said...

and, on the subject of the German economy...

"NOTHING TO FEAR FROM GERMAN ECONOMIC COLLAPSE, SAY EXPERTS"

Stef said...

and on the subject of the UK economy...

Property crash is so bad even the 'For Sale' signs aren't selling

(strangely enough, this one's not from The Daily Mash)