Saturday, Oct 13, 2007
They know what's coming ...
Independent: L&S seeks £200m to bet on property crash
A trio of long-time London property investors plan to raise up to £200m in a stock market listing to cash in on their expectations of a crash in the UK commercial property market. "The momentum has gone out of it. A lot of [high returns] were driven by cheap credit. But after the credit crunch, why would anybody borrow money at 6.5 or 7 per cent to buy a property that yields 4 per cent? The numbers don't add up."
Posted by uncle chris @ 10:34 AM (533 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. inbreda said...
How sick is this...
"...a Guernsey-based investment vehicle....
... a pool of capital on which to draw for properties that were "on the threshold of a correction in values." The expected downturn will create "excellent opportunities" to swoop on distressed assets or forced sellers, he added."
So basically, he is going to wait until poor unfortunate people find themselves in a fire-sale position and are forced to sell at a price lower than they bought. They will snap up the property through an offshored company so they can avoid paying various taxes to the UK government.
The UK consumer is being robbed blind by uber wealthy people who don't even pay tax.
If the UK population wasn't so wrapped up in big brother and had more than two brain cells they'd be rioting about the existence of offshore tax havens.
2. New_order said...
Agreed inbreda. Recall Royston's phrase "People who behave like sheep deserve to be fleeced".
Victor Bout, the world's most richest and dangerous arms dealer, has a lot of business interests in the channel islands. I suggest you read the book called "The Washing Machine".
3. Maihem said...
It's not some poor unfortunate people, it's habitual gamblers. Some people can't be helped - it's just borrow, borrow, borrow, sob, sob, sob. They are selling whether this company buys from them or not.