You aren’t just

You aren’t just in the real estate business. You’re in the business of creating unaffordable housing.So I am writing to you now to ask you to think long and hard about the assumptions you make and the decisions you make as you buy up older buildings, do some cosmetic repairs, hike up the rents to ensure you’ll make a healthy profit, and move existing tenants out, as is your history. When you assume we will be fine, stop yourself.

The stock of homes for sale inched up 0.9 percent to 2.13 million last month, but supply was down 5.8 percent from a year ago. At July’s sales pace, it would take 4.7 months to clear the stock of houses on the market, up from 4.5 months in June. A six month supply is viewed as a healthy balance..

Get business updates directly to your inbox+ SubscribeThank you for subscribing!The group which owns the 99p Stores chain is to roll out its new bargain retail brand across Cheshire and Greater Manchester, beginning with a launch tomorrow in well heeled Congleton.It is aiming to open six Family Bargains or 99p Stores outlets in those regions over the next six months, creating more than 200 jobs.The opening of a Family Bargains branch in Congleton which has been named in the top 40 of Britain’s wealthiest places is part of a strategy to target better off areas.The 99p Stores Group says the stigma among the middle and professional classes of shopping in bargain shops has been wiped out since the recession began, Discount football Jerseys and that customers have been demanding bigger ticket value items.Family Bargains, which was launched in June 2010, sells a greater range of general goods than 99p Stores, including larger sizes and at higher prices.Group commercial director Hussein Lalani said: “When we first started expanding a few years ago, the Mercs used to be hidden blocks away and the wealthy came in pretty much heads down.”Now it’s heads held very much high. We are the talk of the weekend dinner party set and happy to be so. Our clients tell us they are proud to brag about the wonderful bargains they get.”They also tell us they are no longer prepared to pay two or three times the price of our branded essentials like washing up liquid, toothpaste and jars of coffee that the mainstream supermarkets charge.”He added: “We have seen a revolution on the high street.

“He’s fast, that’s why I was taking my time.” Arum said he wasn’t disappointed in the effort put out by Clottey, who was guaranteed to make at least $1.25 million. “What was he supposed to do? If he played offense he’d get knocked out,” Arum said. “I can’t blame the kid for trying to wear him down.” Clottey seemed content to hold his hands high in a peek a boo style through much of the early rounds, trying to pick off Pacquiao’s punches and perhaps rally late.

LoadingSave as favourite