Markets Down Again

M is selling the little one bed cottage she bought in Newton Abbot with the proceeds of her divorce settlement 8 years ago. It has never made her any money on the rental value, even though it is close to the railway station and Newton's "food alley". All it has brought is maintenance trouble and the occasional troublesome tenant, the last of whom left in January with a month's free lodging. Thanks to the carefree excesses of our banking system, the housing market is now in, if not freefall, at least a fairly chaotic descent. With no lodger and therefore no income (though with a safe mortgage from the nationalised Northern Rock, who don't want her custom anymore)she is losing money every month. Time to cut her losses as each month costs with no income. An offer of £10K less than the asking price(which isn't much), considering how much time is costing her, and a halfhearted attempt at barter, and I think she will have to accept the offer. A weight off her mind, and stage one of my evil plan completed; and stage 2: to get a joint account and a joint mortgage on a new place (when the market picks up)(OK it was her suggestion) and after that stage 3 "ding dong the bells............." except she still says "no" every time I ask.