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About Lascaille

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  1. Great article... the the best part the nineties was the fact that nobody else had any money: China - nope Russia - nope Dubai - nope The 'Asian tigers' - nope Korea - nope Japan - not any more! It's not happening again.
  2. That is an optimistic way of looking at it but: 1. SSE has dropped a whole lot but in real terms has only retreated to February 2015 prices - although it looks to drop further. The drop has also been sustained over a period of several months and 'investors' (tbh gamblers) have had plenty of time to get out. I'm sure plenty of them were wiped out 100% due to margin calls but I'm also sure others were not. 2. The piece was written at the very peak of the Shanghai bubble but refers to 'millionaires created in 2014' during which period the SSE - aside from the last month of the year - was largely flat. Unless you assume everyone sold Jan 2015 then re-bought at the very top of the 2015 bubble you have to assume that even more millionaires were created during the bubble and those that escaped before the drop might be looking for a more stable investmment - perhaps real estate! I understand where you are coming from but imagine the effect of one quarter of those new millionaires putting one quarter of their new assets in London property - 250k purchases of 250k dollars. With leverage, 250,000 purchases worth 750k dollars or 500k GBP? What percentage of the London 'normal owner/occupier' market would that eat up? It's insane to think about, really.
  3. As much as I want the London bubble to pop - and believe me, I really do, because I love the place and have been totally priced out - I have to question whether it really will pop or just gently glide downwards for a short while. China is such a huge factor. I don't think there has ever been a country with so many new investors who are so reluctant to buy property - or anything! - in their own country. Having lived and worked in HK for a while and dealt with a lot of mainland Chinese, their contempt for their own government and their own people is off the scale. They would rather burn their money than invest it in Chinese ventures that aren't under direct or family control. "China, with a population of nearly 1.4 billion, added 1 million new millionaires in 2014" - http://www.newsweek.com/china-adds-one-million-new-millionaires-2014-343175 Every Chinese who can get more than $50k together wants to invest in a property outside of China, because they know that it's theirs and won't be confiscated if they happen to upset the wrong people. Asian markets like Thailand attract huge amounts of low-end Chinese individual investors who buy up small apartments for less than the cost of a decent car. I do question whether anything but an absolute ban on foreign ownership of residential property - possibly with a value cap to keep the super-rich happy - will have any effect on London prices. If it makes you feel any better, Vancouver is in a similar situation
  4. There's still plenty of idiocy going around. For a long time I've had my eye on an ex-LA estate that's very central. 1 & 2 bed apts in a tower, 3 and 2 bed maisonettes. Approx 50% private ownership and recently refurbished. The highest sale price for ANY unit EVER in that estate was 330k for a 3 bed, and that's within this year. Recently taken off the market: a 2 bed tower 'offers above 450k' that was originally marketed at 550k. Agent said 'we had offers of 460 but they buyer really wanted more' but I find that hard to believe. On the market: a 2 bed maisonette @ 699. I had a view of the maisonette to get the door # then had a dig on the land registry website. Called back the agent: 'The one four doors down just sold for 330k, is your client open to similar offers' 'Er no we absolutely don't overvalue, if you have an offer 600+ I think it will be considered.' LOLOLOL
  5. I'm sorry if you misunderstood, I said that 'Nuclear fusion has been achieved in research facilties' I didn't say that there was a positive energy yield from fusion so far. However, to the best of my knowledge, there's no reason to doubt that there will be once certain scales are reached.
  6. All these tax theories assume that in 50 years time, we'll still be only using oil or gas for the majority of power. We won't. We'll be using something else. Nuclear fusion has been achieved in research facilties, barring any totally unexpected developemnts, fusion generation plants are a given, the only question is the timescale. Other designs (the polywell is the main one) are being looked into aside from the ITER style tokamaks which may or may not have potential. Pebble bed fission plants (and some other designs) are cheaper and faster to build than the older style reactors. There's no shortage of uranium, breeder reactors will run for hundreds of years on plutonium, etc. You can use the energy from the nuclear plants to synthesise hydrocarbons to make conventional liquid fuels for vehicles, if you don't want to start a mass-shift towards electric vehicles or hydrogen vehicles. If everyone just ignored all the advice about 'saving energy' and consumed absolutely as much as possible, we'd see alternatives in place much quicker and a lot more research being directed in that direction. The more research we conduct on efficiency and ways of saving energy, the less likely we are to develop carbon-irrelevant sources of energy.
  7. Yes, but that never stops some **** from putting his oar in, does it.
  8. This thread will attract a reply which will say 'why don't you just park legally so you don't get a ticket in the first place.' I'd bet money on it.
  9. You mean all the Ground Rents? "Total Ground Rent £130 per annum" "Total Ground Rent £200 per annum" Not exactly BTL stuff, what?
  10. Also let's not forget that many 'parents' are divorced. Living with 'parents' is awkward unless there's plenty of spare room in the house and you can have your own little annexed area, but mum/daughter or father/son living together seems to work out fairly well. All the 'loser' & 'basement dweller' comments show why HPI is an inherently british/american problem. 'Love hotels' are common throughout asia as many young people live with their parents until they get married. There's no attached stigma to taking your girlfriend/boyfriend to a hotel. As everyone is obsessed with Japan as a model for falling property prices, it's common there, too. The term used is パラサイトシングル (if that didn't work, that was japanese, 'parasite singles')
  11. Yeah I've heard a lot about this trick. I heard though that this was more applicable to the 'system built' blocks, most of which are coming down now, as they had basic design flaws. Do you know specifically that this has happened within Churchill Gardens? Pimlico is still my favourite area (thanks to whomever pointed out Barnsbury though, that looks nice), I've found the Barbican also and the Golden Lane Est. I don't really like the ex-LA blocks, but I know that a lot of the period townhouse to flat conversions are done shoddily in the centre of town because everyone knows they'll rent/sell pretty much regardless of condition. Lower-ground corner apts seem to be also cheap for the size, and they often come with under-road storage vaults.
  12. I contract so it moves around, but it's generally city, moorgate, bloomsbury... Not checked Barnsbury, I'll have a look now.
  13. Yeah it's a nice area, prieces seem alright, but it's not really 'in the thick of it,' is it? I guess I didn't mention, it's gotta be close in, really really close in. What's that estate behind tottenham court road by the post office tower? That sorta concept... I'm talking 'walk to work' territory. Anyone have any info on that one? LS
  14. Hi, Does anyone have any experiences or information about Churchill Gardens, Pimlico? I've always liked the area and I think this estate is definitely one of the better ones, a high percentage of private owners, but does anyone have any other information or personal experiences, or any advice about the Pimlico region? I don't plan to buy now, I think prices there still have a way to fall, especially if we see public sector cutbacks. I reckon there's a whole load of civil servants living there who might find themselves jobless. Does anyone also know any similar areas i.e. nice central 'villages' but without the stupid prices of the 'fashionable' areas like Chelsea, Islington, etc? Thanks, LS
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