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fru-gal

Zero Hedge Article - "uk Housing Bubble Bursts: Sales Of Luxury Homes Crash By 80% As "waves Of Wealthy People Are Leaving"

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http://www.zerohedge.com/news/2015-04-12/uk-housing-bubble-bursts-sales-luxury-homes-crash-80-waves-wealthy-people-are-leavin

Also (OT) but why does the topic title formatting always capitalize the first letter of each word? It's really annoying.

Charles McDowell, an independent agent who acts for some of the wealthiest families in London, said that two deals he was involved in had collapsed this week as a result of the non-doms plan, while two families he acts for had asked him to put their homes up for sale.

Mr Osborne is “the most anti-property chancellor Britain has ever had”, Mr McDowell said.

“Britain has gone from being a safe, predictable tax environment to being not predictable and not attractive financially,” he said. “My clients feel under attack, they are not going to invest in London any more.”

Edited by fru-gal

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Even more depressing. Zero Hedge articles are ALWAYS wrong.

Well they are on the same side of the trade as HPCers aren't they. Long market forces; short government/central bank intervention. The latter has been "winning" for 7 years now....now things might start to get interesting.

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7 years is a loooong time when you're trying to build for your retirement, bearing in mind the 80% losses had you done what ZH said you should

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Mr Osborne is “the most anti-property chancellor Britain has ever had”, Mr McDowell said.

:lol:

I would imagine his property portfolio would suggest otherwise!

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7 years is a loooong time when you're trying to build for your retirement, bearing in mind the 80% losses had you done what ZH said you should

Retirement? A bare knuckle fist-fight for sawdust pancakes is the only thing we've got to look forward to.

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As for London real-estate price updates, it hasn't fully hit yet: "House price growth in London’s priciest areas has flatlined during the past six months, for the first time in five years,

So for 5 years it's been good times but the slightest sniff of an off period (flatlined for 6 months so not even a fall - according to the quote) and they're off.

In the meantime most everyone else has to wait and wait and wait for years on end until house prices maybe get to a reasonable level if they want to buy - or take on daft levels of debt.

Edited by billybong

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Classy! Prison bars on all the windows. <_<

They get to boast to their neighbours that their insurance premiums are really high because they live in such an expensive house!

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Would be nice if it were to be true but I don't believe a word of it off hand.

Quite...the mansion tax is a fraction of just regular property taxes in places like NYC...its hardly like NYC has no wealthy non-americans.

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To a lot of US people and NY residents likely the UK is a small foreign country in europe that's starting to go commie and all. Rich people "fleeing" etc. They might be right. People can't even afford to buy a home.

Edited by billybong

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