Bad in Wales

Slump is worst since 1930s - veteran estate agent

Jan 1 2009

by Nick Machin, South Wales Echo

THE current economic slump will be worse than the Great Depression of the 1930s, a South Wales estate agent has warned.
And Saul Magrill should know – because he was there.
Mr Magrill, 94, thought to be Britain’s oldest working estate agent, is shocked at the downturn in the housing market.
He blamed the banks for being “greedy” and spenders for lacking self-discipline.
Mr Magrill started work as a property consultant when he was just 17 in 1931, at the height of the pre-war economic downturn.
But Mr Magrill, who works one day a week for the Chris John Estate Agents in Pontcanna, Cardiff, as a consultant, says that was nothing compared to what Britain is going through now.
He said: “It’s much, much worse now than it was in the 1920s or 1930s.
“I started work when I was 17 in 1931 during the height of the Depression.
“But I have to say that I think 2009 will be much worse than 1931 because people don’t know the old-fashioned rules of budgeting.”
Mr Magrill said property prices had been too high for years and a slump was only a matter of time.
“I’ve been saying for a long time that the bubble had to burst. People were taking out mortgages more than 10 times their annual salary – which they just couldn’t afford.
“In the 1930s people mainly rented property anyway, which was more affordable than it is today, so there wasn’t this risk of lots of people losing their homes and having negative equity. The banks have been deviant. They have been very greedy.”
Mr Magrill added that people today would find it harder to adjust to budgeting.
“In the 1930s it was always hard and everyone struggled so you would stick together,” he said.
“But now people are buying things on credit they can’t afford and are being encouraged to by retailers.
“There was never that option or temptation in the 1930s – you had to make do with what you had.”

JJ Williams speaks out for Welsh rugby.....in English and French.

Quel incroyable match.

At one stage I thought ‘look out, there’s another hammering coming here’ and then it all turned around with 20 minutes to go.
À un moment, j'ai pensé 'affût, il ya un autre martèlement de venir ici », puis il se retourna avec 20 minutes à faire.


Looking back I wonder if England lost it or did Wales just change everything? Avec le recul je me demande si elle a perdu l'Angleterre ou du Pays de Galles ne vient tout changer?

It was a bit of both I think. Il était un peu des deux je pense.


Wales’ fitness must be applauded - they kept running and running. Wales' fitness doit être applaudi - elle a continué de tourner et de fonctionnement.

In the first half when they were trying to run the ball, they were going through phases and losing possession. Dans la première moitié quand ils essayaient de lancer le ballon, ils allaient à travers les phases et à la perte de la possession.


But they kept the ball in the last 20 minutes and kept the ball out wide. Mais il a gardé la balle dans les 20 dernières minutes et a tenu le ballon hors de large.

England struggled to cope with that. Angleterre luttent pour faire face à cela.

Henson made some powerful breaks through England’s midfield Henson fait quelques pauses puissant du milieu à travers l'Angleterre

England fell apart totally and couldn’t live with the pace of the game. Angleterre bascule totalement et ne peut pas vivre avec le rythme du match.

Wales unsettled them. Pays de Galles instable. They were totally flabbergasted. Ils étaient totalement flabbergasted.

At the end of the game when they were behind the posts waiting for the conversion, they looked totally confused. A la fin du jeu quand ils étaient derrière les postes d'attente pour la conversion, ils attendent une confusion totale.

They were lacking leadership and Wales had it all. Ils manquent de leadership et du Pays de Galles avait tout cela.

They took their opportunities and that’s what sport is all about. Ils ont pris leurs possibilités et c'est ce que le sport pour tous.


We played poorly in the first half but I think the difference between the two sides was what happened in the dressing room at half-time. Nous avons mal joué dans la première moitié mais je pense que la différence entre les deux parties a été ce qui s'est passé dans le vestiaire à la mi-temps.

I think Shaun Edwards and Warren Gatland went about our boys and told them a few home truths. Je crois que Shaun Edwards et Warren Gatland allé sur nos garçons et leur dit quelques vérités maison.

They came out and did much better in the second half, so full compliments to our coaching staff - they were the difference between the two sides. Ils sont sortis et a fait beaucoup mieux au cours du second semestre, si plein compliments à notre personnel d'entraîneurs - ils étaient à la différence entre les deux parties.

It’sa great start for them but now they’ve got to keep their feet on the ground - which I’m sure they will. C'est un excellent début pour eux mais maintenant ils doivent garder les pieds sur terre - dont je suis sûr qu'ils le feront.

We’ve got a massive opportunity with three home games coming up. Nous avons une énorme chance avec trois matchs à domicile à venir. You can’t ask for more than that. Vous ne pouvez pas demander plus que cela.

So it’s a great start and a great boost for Wales and Welsh rugby Donc, c'est partir du bon pied et d'un grand renfort pour et le gallois au Pays de Galles de rugby


JJ Williams was speaking to BBC Wales Sport JJ Williams parlait à la BBC Wales Sport