Wednesday, Nov 15, 2006
Big bonuses heat London property market
FT website: Big bonuses heat London property market
The surge in prices at the top end of London’s property market tells the story: the good times are back in the City.
Bonuses for bankers, traders and lawyers in the City, as London’s financial district is known, are forecast to hit record levels, largely on the back of strong merger and acquisition activity.
Posted by garch @ 09:35 AM (152 views) Add Comment
6 Comments
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1. Randomkevlar said...
Ok, well they are going to get big bonuses this year but what will happen when the 7 big EuroBanks start a new stock exchange?
Quote from BBC:
'The world's biggest investment banks are creating a new share trading system to rival the European stock exchanges.'
According to the BBC the 7 banks in question own about 50% of all the stock traded at the LSE...not just big bonuses next year...ho ho ho
2. Inflation Is Eating My Savings said...
Oh well- I suspect that a better strategy for all of us is to ignore this site (and the others) and tell everyone to buy a house otherwise they'll miss the boat and see their future generations confined to serfdom. This way, the bubble will inflate further and our dreams will become reality. This site was placed to add balance to the information on the housing market. In other words, to stop it inflating further then bursting badly. So for us to be addicted to it and endorse its message is counterproductive for us- the people who are banking on a correction. If there is no negative sentiment to people we meet, the correction will come sooner.
A few additional myths to dispel. The interest rate in 1928-9 varied from 12-18% depending on which broker you went to (and this didn't stop the speculation). This interest rate in the 70s and early 90s hit similar levels (this did work). I'm thinking that us clinging desperately to whether or not the BOE is going to shove halfpennies around by quarter percent changes, is desperate, to say the least, especially as the powers that be have decided we need a burst of inflation. Like getting airborne by pulling on your bootlaces, but it can work where money is concerned.
Let the people buy their houses, buying one yourself is a good hedge, but if you want a crash- don't ask for it. I don't believe there was a "South Sea Bubble crash newsletter" or a "Tulip crash focus group" or a "let's stop the roaring 20s society". The dotcom boom was going to collapse- we could all see it coming, but was there a website dedicated to its demise? We all know the market is overvalued. Relax, enjoy life- unless you get pleasure out of perpetual cynicism (which I understand, but don't advocate).
3. Inflation Is Eating My Savings said...
Oh well- I suspect that a better strategy for all of us is to ignore this site (and the others) and tell everyone to buy a house otherwise they'll miss the boat and see their future generations confined to serfdom. This way, the bubble will inflate further and our dreams will become reality. This site was placed to add balance to the information on the housing market. In other words, to stop it inflating further then bursting badly. So for us to be addicted to it and endorse its message is counterproductive for us- the people who are banking on a correction. If there is no negative sentiment to people we meet, the correction will come sooner.
A few additional myths to dispel. The interest rate in 1928-9 varied from 12-18% depending on which broker you went to (and this didn't stop the speculation). This interest rate in the 70s and early 90s hit similar levels (this did work). I'm thinking that us clinging desperately to whether or not the BOE is going to shove halfpennies around by quarter percent changes, is desperate, to say the least, especially as the powers that be have decided we need a burst of inflation. Like getting airborne by pulling on your bootlaces, but it can work where money is concerned.
Let the people buy their houses, buying one yourself is a good hedge, but if you want a crash- don't ask for it. I don't believe there was a "South Sea Bubble crash newsletter" or a "Tulip crash focus group" or a "let's stop the roaring 20s society". The dotcom boom was going to collapse- we could all see it coming, but was there a website dedictaed to its demise? We all know the market is overvalued. Relax, enjoy life- unless you get pleasure out of perpetual cynicism (which I understand, but don't advocate).
4. Inflation Is Eating My Savings said...
Oh well- I suspect that a better strategy for all of us is to ignore this site (and the others) and tell everyone to buy a house otherwise they'll miss the boat and see their future generations confined to serfdom. This way, the bubble will inflate further and our dreams will become reality. This site was placed to add balance to the information on the housing market. In other words, to stop it inflating further then bursting badly. So for us to be addicted to it and endorse its message is counterproductive for us- the people who are banking on a correction. If there is no negative sentiment to people we meet, the correction will come sooner.
A few additional myths to dispel. The interest rate in 1928-9 varied from 12-18% depending on which broker you went to (and this didn't stop the speculation). This interest rate in the 70s and early 90s hit similar levels (this did work). I'm thinking that us clinging desperately to whether or not the BOE is going to shove halfpennies around by quarter percent changes, is desperate, to say the least, especially as the powers that be have decided we need a burst of inflation. Like getting airborne by pulling on your bootlaces, but it can work where money is concerned.
Let the people buy their houses, buying one yourself is a good hedge, but if you want a crash- don't ask for it. I don't believe there was a "South Sea Bubble crash newsletter" or a "Tulip crash focus group" or a "let's stop the roaring 20s society". The dotcom boom was going to collapse- we could all see it coming, but was there a website dedictaed to its demise? We all know the market is overvalued. Relax, enjoy life- unless you get pleasure out of perpetual cynicism (which I understand, but don't advocate).
5. harold said...
...largely on the back of strong merger and acquisition activity.
Err... and cheap money driven asset bubbles (that’s a bit embarrassing however, so we'll just ignore it). The bigger the bubble, the bigger the popping sound when it explodes. Why splash out on a Merc today when you'll be able to pick up a nearly new one for next-to-nothing tomorrow?
6. Bryan said...
Inflation Is Eating My Savings
I think we may have got the message the first time :-)