Sunday, Nov 25, 2007
Commecial propert is falling expect the same from residential
The Times: A zero year for property
Property companies and funds have suffered major declines in asset values and share prices.
Commerial property is in free fall and residential will soon follow.
Posted by mike livingstone @ 10:19 AM (643 views) Add Comment
4 Comments
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1. dohousescrashinthewoods said...
A favourite anecdotal - if you take the front page of Propertysnake, it used to show 40% at the top and 30% at the bottom. It's now 44% and 34%.
Time to save up a deposit in gold, oil and wheat. Forget pounds. Let's face it, if 60% of UK wealth is property, and property halves, that's 30% of UK wealth evaporated back to what it really is - just so much hot air.
30% deflation can't be a small impact, Gordon. You made the boom, mate, now let me introduce you to the other half of the equation you wrote - it's called "Bust", or, more precisely "turfed out of your precious job by the disillusioned and disenfranchised - the people you sought to insult, control and exploit".
Snookums Bushy Bush has more pressing problems and won't be giving a flying monkey about your demise, no matter how much you think you earned it by pandering to his ego over recent years. Crooks are nothing more than fair-weather friends.
2. new_order said...
Given that most businesses based in the UK is in services, most of these people can work from home, including myself. Why pay for an office?
3. planning4acrash said...
In the same vein, why not export the job to lower paid, better qualified, harder working Indians?!
4. wdbeast said...
How refreshing, a property sector that is realistic about what next year has in store.
Prices, Upside -10%, downside -20%
Now turning to the commercial sector............