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Speculators Exit London’s High-price Property Developments

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Any of our residents members of the Twitterati care to retweet this pic?

2Ul6CeQ.png

So, a crash in real terms ( except for London ) but still no one can afford a house and prices relative to wages are insane.

This crash is only half way through....

Who's copyright is that picture? Am I allowed to tweet it ?

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So, a crash in real terms ( except for London ) but still no one can afford a house and prices relative to wages are insane.

This crash is only half way through....

Who's copyright is that picture? Am I allowed to tweet it ?

I'm happy to tweet it .... any suggested hashtags? Bit new to all this social media malarky!

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The funny thing about London is....it's obviously a speculative bubble...what do the idiots buying there think is going to happen now the smart money has moved out !!!

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If you're Chinese or Russian and recycling dirty money, you don't really care if prices go up or down. 50% of dirty money recycled is better than 100% of money you can do nothing with.

Lots and lots of things you can do with dirty money. Losing 50% of dirty money means you could have taken a better option of the thousands available to "clean" it. Of course people care when they lose 50%.

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If you're Chinese or Russian and recycling dirty money, you don't really care if prices go up or down. 50% of dirty money recycled is better than 100% of money you can do nothing with.

From a money laundering point of view that makes perfect senses but only if they were the only two choices ..are they

Edit: need to read whole thread CBWB beat me to it by a country mile

Edited by long time lurking

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i am begining to think the best solution would be to ban foreigner buying homes in uk to rent out.

if they leave it out 10times council tax. if they rent it out immediate conpulsair purchase 50% of value of house

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If you're Chinese or Russian and recycling dirty money, you don't really care if prices go up or down. 50% of dirty money recycled is better than 100% of money you can do nothing with.

Oh I assure you they do care. The psychological impact of loss is more powerful than you might imagine*. A Chinese or Russian crook businessman might throw 100's of $ bills out of a window to prove how rich and powerful he is, but if he dropped one accidentally he'd still pick it up (or get someone to do it for him).

Take a look at multi-millionaires who avoid taxes, they could pay their taxes and still live very comfortably!

* Even if it's money you never physically had (like with house prices).

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Oh I assure you they do care. The psychological impact of loss is more powerful than you might imagine*. A Chinese or Russian crook businessman might throw 100's of $ bills out of a window to prove how rich and powerful he is, but if he dropped one accidentally he'd still pick it up (or get someone to do it for him).

Take a look at multi-millionaires who avoid taxes, they could pay their taxes and still live very comfortably!

* Even if it's money you never physically had (like with house prices).

Very true. You see this in share trading too - investors are unwilling to sell shares at a loss, even if invested in a turkey.

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Very true. You see this in share trading too - investors are unwilling to sell shares at a loss, even if invested in a turkey.

Ha.......their own paid for money.....that is quite different to gambling with others investments or others money via debt......in that case they can just walk away and put it down to market forces. ;)

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Obviously a typo but this new listing for a £160m 3-bed in Nine Elms made me smile.

http://www.rightmove.co.uk/property-for-sale/property-53747933.html

If they correct it to £1.6m, will PB etc show a 99% reduction?

I notice they are using sqft instead of sqm to make it look bigger. That place is roughly 100sqm, same size as a decent 3/4bed house.

Actually if it was 1143sqm it might even be the whole block...

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