NEGATIVE EQUITY

No need to explain on here what it is----is there?
However, there will be many people and some no doubt live in Dawlish that will feel its effect.

It was quite easy to predict that it was coming two or three years ago. What is not so easy to predict, (for me at least) is, how many will be caught up in it.

What I will predict is that house prices will continue to fall at an alarming rate and recovery (if any) will be a long way off. So the knock-on effects could be humungous.

Now I am not racist, niether am I against what other people do. What I am against are those that sleep walk into a situation and then try and put the blame on others when things go wrong.
For what it is worth, here is one way to whether the storm.

During the early seventies when I was gainfully employed as Chief Engineer for a string of very large hotels, I had a situation where I had to call in the Gas Board (as it was then) to investigate a smell of gas.
The Gas engineer told me this little story of what he had just witnessed before he came to me.

He had been into a three-storey house to investigate another gas leak, where he had occasion to enter every room. He never witnessed before in his life, just how many people lived in that house--he estimated there must have been between forty and sixty.
They were all of Eastern nationality.
So if any one wishes to know how to live cheaper than they are now, just ask a foreigner.

Another thing they used to do and some of you will remember TUFF Shoes with an enormous guarantee attached to then. Those shoes were worn 24/7, so the guarantees were soon removed.

And they can feed a house-hold for a week, on less per hour than the minimum wage. Bulk buying, bulk cooking and no cutlery to eat the meal from so no dishes to wash.

That is how to weather the storm.