The country’s biggest mortgage lender said prices slumped 2% in June from May, adding to May’s 2.5% fall and April’s 1.5% drop. The resultant 5.5% drop for the quarter was the worst since Halifax’s records began 25 years ago and far worse than at any time during the housing market collapse of the early 1990s.

But what can you do about negative equity? Whatever you do it’s going to be painful. Simple thing is to reduce your outgoings and increase your income. Take proactive active, like like a monk, start up a home business selling all the crap you have collected whilst times were good. It’s never been a better time to make a bit of money, yes I know it’s not the British way, we are much more likely to sit on the sofa and moan about those pesky Yanks. Stop your moaning, clean out the attic, and go and stick it on Ebay. It’s never been a better time to make money, you have a computer, you have access to the internet, go make some cash. It’s not that hard Source

The info is ranked with Alexa and google pr rankings, useful as a quick intro into the world of financial blogging.

But get this, Money.co.uk just sold for a whopping £1.2 million, that’s $2.4 million in proper money and that’s for a Limey site. Who would have thought the Brits had that much cash?

It’s the largest amount of money anyone has paid for a .co.uk. What this tells me is that the domain boom is still on and it’s where the money is heading.

So here’s what you do. Go sell your ridiculous five bedroomed clone house in the suburbs of anonymous America and invest in some worthy domain names. Leave some cash over to go buy an Airstream trailer and go live in the desert, somewhere like Blythe, AZ.

Make sure you have a fast internet connection, dual monitor hook up, pull down the blinds, open the 5 litre Dr Pepper and the extra large bag of Doritos and get trading domains.

Now you don’t want to get any old domain, you need a domain that will go up in value. Got that? It has to increase in value, not decrease. It’s a simple concept a lot of people who invest online don’t seem to get.

Keep away from sites like, youstooopidjerkoff.com it’s highly doubtfull it’s going to make mucho cashola, unless of course you get hold the exclusive rights to the next Paris Hilton sex tape and use the domain to host the video, but even that has gone down in value. I guess Paris tends to go down a bit too much.

Of course the best domain to get is something like sex.com, porn still represents the biggest earner on the web, according to some sources it represents nearly 40% of data zooming around the web, you wont hear mainstream bloggers discussing this though. They are too busy jerking off to their iPhone.

Problem is, sex.com is worth more money than the GDP of most African countries, so being a porn king is out, the investment is way too high.

You need something in the middle, and possibly something you wont be ashamed to tell your Granny.

The great thing about Money.co.uk, as well as being cheaper than sex.com is that it has a ready made business attached to it. Instant earner, and a one word domain is only going to increase in value.

Was it too expensive at $2.4 million? Probably not, as it makes its money introducing people to new financial products, it may do well in a recession as people tend to swap their credit cards for better deals. The site gets money regardless of how the economy is doing.

Sure, you can’t live in a web domain or hang it on the wall, but view it more as virtual real estate and anyone in real estate knows that location matters.

When new stuff enters the social consciousness, like the term “credit crunch”, you can snap up a bargain if you’e fast enough. Keep your eyes peeled for new trends and you could be on to a nice little earner.

How do I know Money.co.uk sold for £1.2 mil? Simple. A little birdie told me. Now go sell your house and invest in domain names.

A major bank however, that’s another story all together. A bank is not just a normal business. In a way it is a meta business, all business done in society will have a banks fingers stuck deep within the pie. If that bank goes bankrupt the implications are spread far further than if the local fishmonger goes bankrupt.

A bank going down effects the whole economy, it may even effect legislation. Because of this, when a bank is in trouble, the government is obliged to step in and stop the domino from falling and hopefully negating any blowback.

But when the people running the bank are reckless and are the cause of the banks failure it may seem bizzare. Especially when these multi million pound salaried movers and shakers scuttle off with a golden parachute to their newly aquired island in the caribbean.

Constantly we see failure in the business world rewarded. Even the head of BA gets to keep his job after the Terminal 5 debacle.

So yeah, when a bank gets several billion of our tax money and you can’t pay the mortgage, it’s going to sting. But it is for the common good.