Wednesday, 4 April 2007

Back on the proverty ladder


I've been a bit distracted lately with being ill and catching up with work. But in the background I've been working on getting back on to the proverty ladder. Yep, that's not a spelling mistake, that's my trademarked word for property in the new millennium. You see there is no way nowadays to own property without mortgaging yourself to a frankly disgusting state of disposable income, and therefore making you enter the world of poverty - combine the two and you get proverty.

Anyway, I've bought a house with my brother in NZ. Property is no cheaper there in relative terms, but I have to get back in the market somehow. Our little bungalow in Tauranga may not make us rich, but certainly won't lose us money. Tauranga property has gone up 10% per year for the past 5 years so we are late to market but never mind.

I've taken the hit in my net worth but the good little run the FTSE has been on for the last week has seen me recoup a bit there and my pension looks all the better for it too.