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Rent Hyperinflation

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Don't worry, renters on this site may feel worried. DO NOT.

This downturn/recession/depression/SHTF what ever you want to call it, is yielding inflation and deflation.

Those with pricing power can put up prices. E.g owners of unique buildings for clubs that may not have elsewhere to go. glass manufacturers [monopolised industries] a thread that I posted not long ago etc.

And those without pricing power. E.g. Residential property - of which there is an oversupply, hence rents falling - or if they do rise you can easily find another place to rent.

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http://www.thisisjersey.com/2009/08/25/vic...club-in-crisis/

Victoria Club in crisis

Its committee has warned members by letter that the club, which has been at 8 Beresford Street by the Market since 1853, could be forced to move premises because the rent is being increased from £37,000 a year to ‘a staggering’ £135,000.

Ouch

This is probably the first time in 10 years that the rent has been reassessed. And as a commercial property it has likely to have gone up this much

tim

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http://www.thisisjersey.com/2009/08/25/vic...club-in-crisis/

Victoria Club in crisis

Its committee has warned members by letter that the club, which has been at 8 Beresford Street by the Market since 1853, could be forced to move premises because the rent is being increased from £37,000 a year to ‘a staggering’ £135,000.

I expect if the club simply point out that they are going elsewhere, there rent will drop down to £35k

The owners are strapped for cash and hope to milk some money from a few toffs.

When they are facing zero income from the building they will back down big time.

it's not like they can just leave the place vacant and have no costs... bilt 1853 it's probably grade A listed requiring constant heating and maintenence.

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