Market update
Following the 0.25% cut in the base rate last month the Bank of England Monetary Policy Committee chose to maintain the current rate following their last meeting at the beginning of March.
Average prices for the UK housing market in general continued their shallow decline during February with all the main market commentators reporting minor falls. Of course these figures are an average for the market as a whole and certain areas continue to experience price growth.
The Nationwide house price index recorded a fall of 0.5% for February with the Halifax survey broadly in line with a reported figure of 0.3%. Commenting on the figures Nationwide's chief economist Fionnuala Earley said: "The performance of the economy is highly relevant for the fortunes of the housing market. So while there are several factors which are slowing housing market demand, from poor affordability to weakening house price growth expectations to tighter credit conditions, the fact that an economic recession in the UK seems unlikely provides some support for the overall health of the housing market".
Where are interest rates and house prices heading?
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What causes property prices to rise and fall?
Simply put, property values are driven by supply and demand.
What it boils down to is thisâ¦.
If there are plenty of houses for sale but no strong demand for them from buyers, in other words if every purchaser has a choice of four or five suitable homes available for sale, then there is nothing pushing up property values. However if for every house for sale there is a queue of 4 or 5 people ready to make an offer, this pushes up property values.
Okay, so what affects demand?
"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage." - Ralph Waldo Emerson 1803-1882, Poet and Essayist
"Don't be distracted by criticism. Remember the only taste of success some people have is when they take a bite out of you." - Zig Ziglar, Author and Speaker
The wealth myth
Advice on how to get rich is everywhere. "Start a business", "Create passive income", "options trading", "property investment", "buy low, sell high", "sell high, buy low"... Until we know our personal path to wealth, it's all just noise. Or worse, we may follow our path and then veer off... You make your money in business, and then lose it all on the stock market. You earn over years working for others, and then lose your savings trying to start up on your own business... As we generate cash through our lives, we all fall prey to the WEALTH PARADOX.
What is the Wealth Paradox?
"Failure will never overtake me if my determination to succeed is strong enough." - Og Mandino 1923-1996, Author and Speaker
"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." - Olga Korbut Gymnast - Four Time Olympic Gold Medallist
It Is Up To You by Jim rohn
One of the first things successful people realize is the old adage, "if it is to be, it is up to me." That is, for you, the fact that your success and your course is up to you. This doesn't mean that you do it all alone. It simply means that you take responsibility for your life and your career.
Too many people today look at opportunity and figure it is up to someone else to make sure they get it. They look at financial security and hope that the government will make sure they live safely in retirement or in case of disability. They wait and wait, figuring that it is up to someone else. And then the wait is over, and it is too late to do anything. Their life is over and they are filled with regret.
This isn't true for you however. You know that you must take responsibility for your life. It is up to you.
Courtroom Humour
Q. Now Mrs.Johnson, how was your first marriage terminated? A. By death. Q. And by whose death was it terminated?
Q. Doctor, did you say he was shot in the woods? A. No, I said he was shot in the lumbar region.
Q. What is your name? A. Ernestine McDowell. Q. And what is your marriage status? A. Fair.
Q. Are you married? A. No, I'm divorced. Q. And what did you husband do before you divorced him? A. A lot of things I didn't know about.
Q. Doctor, how many autopsies have you performed on dead people? A.All of them.
Q. Were you aquainted with the deceased? A. Yes sir. Q. Before or after he died?
Q. What happened then? A. He told me, he says, "I have to kill you because you can identify me." Q. Did he kill you? A. No.
Q. Did he pick up the dog by the ears? A. No. Q. What was he doing with the dog's ears? A. Picking them up in the air. Q. Where was the dog at this time? A. Attached to the ears.
Q. And lastly, Gary, all your responses must be oral. Okay? What school did you go to? A. Oral. Q. How old are you? A. Oral.
Q. Now, you have investigated other murders, have you not, where there was a victim?
Q. ...and what did he do then? A. He came home and the next morning he was dead. Q. So when he woke up the next morning, he was dead?
Q. So, after the anesthesia, when you came out of it, what did you observe with respect to your scalp? A. I didn't see my scalp the whole time I was in the hospital. Q. It was covered? A. Yes, bandaged. Q. Then later on, what did you see? A. I had a skin graft. My whole buttocks and leg were removed and put on top of my head.
Q. Could you see him from where you were standing? A. I could just see his head. Q. And where was his head? A. Just above his shoulder's.
Q. Do you drink when you're on duty? A. I don't drink while I'm on duty, unless I come on duty drunk.
Q. ...any suggestions as to what prevented this from being a murder trial instead of an attempted murder trial. A. The victim lived.
Q. (Showing man picture), That's you? A. Yes sir. Q. And you were present when this picture was taken, right?
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