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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mike Johnston who wrote (51186)	1/24/2006 3:40:28 PM
From: Les H	Read Replies (1) \| Respond to of 110194

The average UK household spends a disproportionate amount of their monthly income on their home loan, approximately 45 percent according to one of the guests touting homebuilders on CNBC. They have no choice but to move abroad or to share occupancies, the latter of which I'm seeing with much greater frequency among the elderly in the condominium complex.

To: Mike Johnston who wrote (51186)	1/24/2006 5:23:01 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

The UK must be in bad shape, judging by the massive migration out of the country. Some of that migration is actually due to the desire to cash out housing bubble equity and move elsewhere. Certain towns in Spain have doubled the number of residents in a few years, with 90% of newcomers from the UK. Complaints you hear from British expats focus on declining services, overcrowding and high living costs. They don't even mention the weather ! I know it firsthand since i maintain a summer home in one such town in the Costa Blanca region of Spain. I was just interviewed by the London Times. Article coming out in February I think. I will post it when I see it. Anyway the writer that interviewed me is living in Spain. Mish