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eric pebble

Vast Amount Of London Property Sold To Asians

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At the end of the day, we don't sell them anywhere near enough consumer goods in return, so the only way to repatriate the pounds/debt they own is to sell bits of our country. I'd guess if we prevented them from buying, the pound would lose a crap load of value.

Of course, I hope at some point our government might put its own taxpaying citizens first and build a mass of affordable housing for British people, having offloaded ludicrously overpriced flats in ghetto parts of London to the Chinese, but I suppose thats fanciful thinking. Nope, we'll just be tenants in our own land...rent paid to the new feudal lords based in Shanghai or Dubai.

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Ever been to a Chinese casino?

I have.

It was very enlightening, and I learnt more about the global housing bubble in that half-hour casino visit than in any newspaper article or online forum.

It was roulette.

One player at the table started putting his money on one particular square. As time went on, other players started putting their chips on the same number ... that number was "lucky", you see.

Before long every player at the table was putting their chips on the same number, and losing it every time. But they kept playing - piling their chips on the same square. Soon, there was a huge mound of chips on that one square - so they started piling onto the neighbouring squares, and the adjacent edges, and the surrounding corners.

Every swirl of the wheel, a mountain of money was placed on that one number, and lost, but they kept on playing.

Of course, that number never came up, nobody won anything, and the casino took everything.

(I got a free coke while I watched the herd).

Those flats in Nine Elms are where your grandkids will go to get their crack.

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Ever been to a Chinese casino?

I have.

It was very enlightening, and I learnt more about the global housing bubble in that half-hour casino visit than in any newspaper article or online forum.

It was roulette.

One player at the table started putting his money on one particular square. As time went on, other players started putting their chips on the same number ... that number was "lucky", you see.

Before long every player at the table was putting their chips on the same number, and losing it every time. But they kept playing - piling their chips on the same square. Soon, there was a huge mound of chips on that one square - so they started piling onto the neighbouring squares, and the adjacent edges, and the surrounding corners.

Every swirl of the wheel, a mountain of money was placed on that one number, and lost, but they kept on playing.

Of course, that number never came up, nobody won anything, and the casino took everything.

(I got a free coke while I watched the herd).

Those flats in Nine Elms are where your grandkids will go to get their crack.

Do you think the original person worked for the casino? With such conformity it seems an easy way to make money? So a number that never came up was lucky? I suppose it was for the casino as they did win every time.

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Ever been to a Chinese casino?

I have.

It was very enlightening, and I learnt more about the global housing bubble in that half-hour casino visit than in any newspaper article or online forum.

It was roulette.

One player at the table started putting his money on one particular square. As time went on, other players started putting their chips on the same number ... that number was "lucky", you see.

Before long every player at the table was putting their chips on the same number, and losing it every time. But they kept playing - piling their chips on the same square. Soon, there was a huge mound of chips on that one square - so they started piling onto the neighbouring squares, and the adjacent edges, and the surrounding corners.

Every swirl of the wheel, a mountain of money was placed on that one number, and lost, but they kept on playing.

Of course, that number never came up, nobody won anything, and the casino took everything.

(I got a free coke while I watched the herd).

Those flats in Nine Elms are where your grandkids will go to get their crack.

Gambling is massive with the Chinese. In Singapore a taxi driver (not Chinese) told us they will bet on anything, even e.g. whether the registration number of the next red car they see contains such and such a number.

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Interesting anecdote about the casino, but I suppose any number on the wheel would have had the same chance of winning so no harm in sticking it all on a 'lucky' number. The house always rakes it in!

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Property Week - Revealed: the full scale of offshore investment in the UK http://www.propertyweek.com/news/revealed-the-full-scale-of-offshore-investment-in-the-uk/5077330.article

Full Report: http://www.propertyweek.com/5077252.article

McclzWn.jpg?1

No idea how (relatively) relevant this is.

cheers. The drop from £28 to £10 bill in 2008 /9, illustrates how big & sudden such drops are, when markets & confidence go t!ts up

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Why does Gidiot not increase tax on foreign buyers?

Because they'll run off their flight capital into some other tax avoidance jurisdiction instead.

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Unbelievable? All too believable. What I find unbelievable if it happens these days is anything that I think seems sensible or desirable.

Yes. The video was sickening. All these VI's saying 'if it wasnt for foreign money the flats wouldnt get built at all and thus the small contingent of affordable units wouldnt exist.

No.

If it wasnt for foreign money land prices would be lower, the overall market would be lower and they would all be more affordable.

Or the 'its great that my clients foreign money is boosting growth'

Growth?! Its the same damn property it always was (well, probably its been divided into 2 or 4, so its half or less the property it used to be)...it just has more zero's on the end. Thats not growth, thats a ponzi driven inflation, you sick b@stard.

This is the result of 'growth'...inside a flat on the tower bloc at seven sisters that the one lone British guy was looking at....

Growth should mean things getting better. Not families of 4 living in a one bed shoebox.

32061_PSR120012_IMG_03_0000.JPG

32061_PSR120012_IMG_02_0000_max_656x437.

Edited by Executive Sadman

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Property Week - Revealed: the full scale of offshore investment in the UK http://www.propertyweek.com/news/revealed-the-full-scale-of-offshore-investment-in-the-uk/5077330.article

Full Report: http://www.propertyweek.com/5077252.article

McclzWn.jpg?1

No idea how (relatively) relevant this is.

Good god. I was expecting a couple of billion...but 20, 30?

It is clear to me now, without this, the pound would be toast. We simply wouldnt be able to stock the shelves.

trade_balance_may_09.gif

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Growth should mean things getting better.

Spot on. Except, well, it does mean things get better. For a very small number of people but they're the ones the system exists for. I suppose it's doing exactly what it's supposed to do.

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The date on the video is Feb 2014 so that was then. Now it's on the turn especially in PCL (Prime Central London) so there will be some sharp drops and a lot of people are going to lose a lot of money :) (Shadenfreude :rolleyes:)

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This could have been avoided long ago . . . but it depends upon political will . . . and we don't see this from left or right parties.

When I lived in Holland, there were privately owned zones, housing association zones and rent controlled areas. Private owners could charge what they liked . . . in other areas you usually had to fulfil some kind of critera, such as living/ working in the area for one or two years.

I think it came about because of the Bijlmermeer . . . a huge suburb built for Amsterdam overspill. The Surinam crisis meant that Holland had to put hundreds of people here suddenly and created a ghetto. The zoning meant that everyone could find a place to live without creating obvious rich and poor divides.

When I first went to work in Amsterdam I had to pay nine hundred guilders a month rent in the private sector . . . a transfer one year later reduced my rent by two thirds. In nice new developments on the Polders you needed two years local residence.

Another thing which forced Amsterdam/Dutch Government to look at housing policy were the squatter riots of the early eighties.

Wikipedia

These were some of the most violent city riots I have personally witnessed.

Wiki has not really sanctioned this account, but certainly the riots did have their roots in empty properties owned by speculators while many were homeless. Eric's video suggests this is an increasing trend in London.

When I joined HPC it was unthinkable that the Government would go to such extremes to protect a bubble. Now I see that some kind of social implosion is far more likely than a crash. That won't be pretty at all.

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You know what, Copydude...... I am AMAZED ---- Yup ---- AMAZED that the 20/30 somethings haven't used their 'social media' gizmos to organise the biggest and most forgivable, pardonable, defensible, justifiable, condonable, understandable, & explainable MASSIVE Showdown. If they did it PEACEABLY --- but brought London to a COMPLETE STOP - [Lie down in the roads, block trains etc. ] ==== if they did it causing NO DAMAGE to anything or anyone ---- they would EASILY win the sympatyhy of the vast majority of the UK population - IMHO. It just AMAZES me they haven't done this. They should issue an ultimatum: Bankers put on trial for MASSIVE FRAUD ---- UNLESS & UNTIL this is done --- no more transport - no-more-anything-works in London .... It really wouldn't be all that difficult.

MAKE A STAND - FOR ONCE AND FOR ALL.

Edited by eric pebble

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Yes. The video was sickening. All these VI's saying 'if it wasnt for foreign money the flats wouldnt get built at all and thus the small contingent of affordable units wouldnt exist.

No.

If it wasnt for foreign money land prices would be lower, the overall market would be lower and they would all be more affordable.

Or the 'its great that my clients foreign money is boosting growth'

Growth?! Its the same damn property it always was (well, probably its been divided into 2 or 4, so its half or less the property it used to be)...it just has more zero's on the end. Thats not growth, thats a ponzi driven inflation, you sick b@stard.

This is the result of 'growth'...inside a flat on the tower bloc at seven sisters that the one lone British guy was looking at....

Growth should mean things getting better. Not families of 4 living in a one bed shoebox.

32061_PSR120012_IMG_03_0000.JPG

32061_PSR120012_IMG_02_0000_max_656x437.

This should be Jeremy Corbyn's area, he should be shouting this through a megaphone.

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In the video (2.15 minutes) was it the toilet cistern or the toilet bowl that was the £125,000 property. Difficult to know which was the best value.

Edited by billybong

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A bit of a laugh the way that they associated that pokey flat in Hackney with James Bond music.

Maybe the new Bond movie Spectre should be renamed Sceptic or maybe even Blighted.

Edited by billybong

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