Saturday, Jul 14, 2007
First serious cracks emerge... this will really end up in tears
Times: Britain’s hidden property slump
"While all eyes have been on the housing market, funds that invest in shops and offices have been losing money, prompting a wave of selling.The downturn would threaten the savings of hundreds of thousands of people who have been lured into commercial property funds in the past few years. The schemes were the most popular Isas by far last year and the sector as a whole took £2 billion in the six months to April, the height of the Isa season. Capital Economics predicts that prices will slide 12% over the next three years, with a slump of 20% a distinct possibility. Advisers are drawing parallels with the tech boom of 2000, when investors were lured in just as returns peaked – although property funds are unlikely to suffer such a severe fall" ... and why is that unlikely!?!?!?
2 Comments
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1. Yellerkat said...
Erratum: For: "when investors were lured in" read "when victims were sold a pile of poo".
2. Ash4781 said...
"This will be bad news for thousands of buy-to-let investors who have moved into high-street shops, often with flats above, to add spice to their portfolios."
Some serious deflation and run down towncentres coming then.