McBroon’s fiscal porridge

The Spanish property market appears to have reached a watershed moment in time with reports that the collapse in prices might be bottoming out, based on sales of more than 500,000 properties in the last 12 months, and British buyers finally having to realise the once mighty Pound now only buys one now mighty Euro.

Despite the world recession property sales have dipped by only 20% thanks to heavy discounting by developers, Spanish bank repossessions and British vendors taking reverse advantage of the 30% exchange rate decline.

It’s been a buyers’ market for many months and 10,000 deals a week across Spain provide strong evidence that the more realistic prices and extra low interest rates have attracted the bargain hunters, but with many hesitating Brits hoping for further falls.

If September 2009 proves to be the watershed, then they will have missed out on the real bargains like 2-bed apartments for EUR 74,000 and 3-bed villas from EUR 140,000. While continuing to “look before they leap” 1,000s of British couples intending to buy a property in Spain, have suffered a double whammy as Sterling has plunged and is now unlikely to get better than parity for years.

The decline in the Pound is a direct result of McBroon’s fiscal porridge, that has brought Britain within a caber-toss of bankruptcy with savage budget cuts admitted for the first time by this patently dishonest bunch of incompetents…

It seems the Swiss, who know better than anyone how to manage the economy, are forecasting the continuing decline of Sterling as big corporations quit the sinking ship, now driven onto the rocks with the bungling McBroons at the wheel. They also point at the 800 billion pounds worth of borrowing to bale out the banks and the mismanaged British economy and pose the question: “Who would lend more money to this UK Government”?

Buyers who haven’t yet taken a view trip to Spain to select the last of the real bargains are unlikely to see house prices drop further, but extremely likely to see their buying pound shrink in their pockets. Over-50s need to move fast to secure a Spanish property investment.

The other half of their Hobson’s Choice is to stick with the McBroons fiscal porridge and watch as Spain follows Germany and France into better economic state, house prices recover from their 30% dip and life returns to normal with generous dollops of Med lifestyle and sunshine.

Escape to Spain, Escape from McBroons

The summer has seen the ruling, bungling McBroons crash from crisis to disaster as the economy went south and the national debt northwards.

Over 50s, struggling to hold onto their last jobs before retirement or supplement their pensions, have never seen anything like the level of incompetence shown by the McBroons. They say Ministers and departments of state lack credibility, a viewpoint reinforced by statements from McBroon Castle on the economy and the needs for cuts and belt tightening.

First, it’s no cuts in public services as spun all summer long, now, as McBroon himself realises no sane person in the land believes him, he finally admits there will be cuts as the national debt soars above £800 billion.

After the great Westminster expenses scandal, involving a succession of McBroon ministers, comes the scandal of the Chief Attorney getting her knickers in a twist over her illegal immigrant housemaid. Baroness Scotland forced through the law that caught her in its net, but she claims she didn’t keep copies of the documents she checked when offering the job. She didn’t say what those documents were, but was happy to cough up £5,000 for a fine in the hope it would all go away…

Many of the Over-50 loyal readers of this blog run companies that may start recruiting again sometime in the next decade. They now have a ready answer if they inadvertently fall foul of the McBroons laws on employing immigrants.

Tell the man from the Border Agency – the same dozy outfit that allowed illegals to hitch a lift on their private coach – that you are sorry if the originals of the documents you have photocopies of are fakes like the ones that so easily fooled the Bungling Baroness. Then quietly point out that the McBroons own Home Office issued thousands of national insurance numbers without checks…

It is no wonder that Spanish property websites are getting record numbers of inquiries from Over-50s – they clearly reckon that country is nowadays run better than the UK. Plus the weather is better and as the cost of living is much lower, the pension will go much further... and they will escaped the machinations of the McBroons.