Pippin, I appreciate your candid comments, its so refreshing to get such from an agent.

A guy came into my offices recently. He claimed to be involved in developing property just back from a beach on the south coast where he says the whole dock area is being completely re - developed. His appartments started at £200,000, and where next to a 'planned' golf course.

The guy had not a clue about the credit crunch or its effects, he just existed in some weird positive bubble. I was astounded someone claiming to be a shrewd developer had not the slightest interest in world economics!

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Been investing abroad a few years. Always amazed people invest in places that produce just a few months rent per year