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Halifax advise that London houses have gone down in value by 4.4% this last year – if one adds on 2.5% for inflation, the loss of purchasing power is 6.9%. Halifax have borrowers who do not wish Halifax to exaggerate the fall – one can envisage a borrower under pressure pointing out to Halifax that he would not be having so hard a time if Halifax had not spoken about declines in value. This would not change the legal position, but it does rather invite Halifax into an ongoing stress situation (pardon my English).
A member of my family who collects data by looking in estate agents’ windows tells me that the true fall is much more than 6.9%. Are you surprised? Who would turn down the opportunity to cash in a million and emigrate to deepest nowhere?
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ASOS (LON:ASC) have at last hit overcapacity both in their books but also those of others. ASC has cost me hundreds of thousands since I was premature in foreseeing this result. So I had best be careful (after all Boohoo (LON:BOO) has yet to collapse). But wild horses would be required to cause me to buy at £22.
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On the declared facts Caribbean Investments (LON:CIHL) are still very cheap at 20p. However, I have to hope that the Government of Belize does not do something exceptionally silly.
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Offaly sweet: Shane Lowry’s performance in the Open has been charming.