Wednesday, Feb 25, 2009
Land prices in big cities crumbling
Japantimes: Land prices in big cities crumbling
The figure suggests the global economic downturn rooted in the collapse of the U.S. housing market and the collapse of U.S. securities house Lehman Brothers Holdings Inc. sent land prices diving, observers said.
Posted by mark @ 01:11 PM (424 views) Add Comment
2 Comments
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1. mark wadsworth said...
Tee hee, I wonder whether Japanese estate agents have been yapping on about pent up demand and buying on the dips for hte past fifteen years...
2. peter_2008 said...
The UK pend up demand is artificially created by government through the lax tax system on property related assets. Basically, if you have £1 million cash, then one of the best the long term investment in this country is INDEED the blxxdy property. Because if you invest in anything else, the government will go out their way to make sure that you will be left with pretty much nothing after tax. That's why even though the stock market consistently out performed property, the net gain is actually less after various tax. There is a reason why the rishest person in this country, Lord of Wesminster is, unthinkable in US, Europe and Japan, just a landlord.