Monday, Jan 14, 2008
Bonuses Down but proeprty Still the Main Target for City Executives
The Times: News Article
Well, who would have thought it? Perhaps there won't be the crash everyone is anticipating?
Posted by david-20040 @ 08:24 AM (321 views) Add Comment
5 Comments
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1. hpwatcher said...
I think any exec would be nuts to invest in property.....simply too much uncertainty. There are other things which would be a far better bet.
I mean @david-20040 would you invest in UK property?
There is your answer.
2. The Baldman said...
If you are a foreign investor you have already lost 10% of the value of the property in currency depreciation. This is an article written by VI's trying to keep spinning property.
3. Landedgentry said...
yeah david-20040 go invest in property now LMFAO
4. confused76 said...
Sure sure, with the pound falling these big US dollar and Euro earnears were waiting for this fantastik opportunity to catch a Chelsea falling knife on the cheap
also the upcoming bank redundancies will also increase the btl vacancies so for the bankers wives it will be easier to park the Range Rovers in front of the house
any more silver lining?
5. drewster said...
Welcome back, David.
The headline is misleading: there are a number of revealing facts in the article:
- "Lulu said that some of her clients will be using their bonuses to repay past mortgage debt"
- "Some agents have noticed a more cautious approach among their investment banker clientele"
The simple truth is that if bonuses are down, then there's less money available to pump into the housing market. The rest of the article is just forward-looking opinions from estate agents rather than based on actual experience.
The best comment is from a Times reader: "I don't think one Goldman Sachs employee buying a house in Belgravia is going to protect the price of a semi in Hull."