fundamental24 Aug 2011 19:40
There may have been some gentleman with a fair share of these. £100,000 a year or so agao and now that is worth about £800.00. It would be nice to buy and put them away and hope for a recovery in property. Do not think it can happen. As a lot of property is worth less than what is borrowed on them and have been completely wiped out. There must be some funds out there taking on the properties at this price. Long term there could be a return but so many property funds have hit the buffers. It will have its day one day. Not for some time though. It is tempting at this price. MM have covered them selves as usual with the spread.....