Monday, December 1, 2008
But the high end is immune
£20m Mayfair home up for sale after bank calls in loan
So if foreign investors and bankers were propping up the market London, now the props are taken away, the next prop will be be the floor. Eastern European housebuyer loses £20m home as loans called in,meanwhile a banker forgoes his £500k deoposit when he didn't receive a bonus as large as expected and his stock options fell 70%.
Posted by mikelivingstone @ 10:22 PM (524 views)
2 thoughts on “But the high end is immune”
Add a comment
- 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
drewster says:
Oh no, where have all the wealthy Russian and middle-eastern buyers gone? Maybe they’re nursing the losses they’ve endured at home: Russian stockmarket down some 70%+, oil price down 66% from peak. The wealthy Chinese are struggling to keep their factories open, and the wealthy Americans are having their homes repossessed. London house prices are not immune, the supply of rich muppets is finite.
fjcruiser says:
Cash buyers have vanished into thin air….
Forgoing your deposit after exchanging does not solve your problems. You are still liable to pay the difference between the agreed price and the price that the property will eventually fetch.In fact from a sellers point of view, it is great, you can sell your property at the realistic level then sue the original buyer for the difference. Great plan!