Oct

7

golden gooseI took out a personal loan today for no other reason than the fact that the banks are hoarding cash. I figure that's what's good for the goose is good for the gander.

Meanwhile I had a look round some estate agents posing as a cash buyer of repossessions and/or remnants of what property developers want to unload. Whenever they tried the usual sales patter (e.g. people are queuing up for this one) it was interesting to see how much I could make 'em squirm with statements such as 'the banks aren't lending to anyone right now' and such like. My impression was that the agents are also exasperated with the high prices as there's no liquidity at these levels.


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