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eric pebble

Prepare, ....., For 50 Per Cent-Plus Price Drops.

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I think this is actually VERY interesting....

There’s a lot of flapping and clucking in the UK ‘luxury apartment’ market as the chickens come home to roost

And because they face an economic slowdown at home, Chinese investors in particular are saying: “Keep the £2,000 – and if you don’t like it come after us in the Chinese courts.”

They are defaulting, in other words, with no consequences. And the result is that some developers are left holding a huge supply of apartments that few onshore buyers can afford. Prepare, said my nark, for 50 per cent-plus price drops.

http://www.independent.co.uk/news/business/comment/there-s-a-lot-of-flapping-and-clucking-in-the-uk-luxury-apartment-market-as-the-chickens-come-home-a6857341.html

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I rememebr in 2007 a couple of people I know "sold" in January 2006...then completed in Sept 2007.

The buyer tyhen tried to "flip".

They were obviously waiting to see what the market was doing and buy at the priginal price, it was poetic justice when I saw both of them loose 10's of thousands when they finally sold in 2011

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I rememebr in 2007 a couple of people I know "sold" in January 2006...then completed in Sept 2007.

The buyer tyhen tried to "flip".

They were obviously waiting to see what the market was doing and buy at the priginal price, it was poetic justice when I saw both of them loose 10's of thousands when they finally sold in 2011

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I rememebr in 2007 a couple of people I know "sold" in January 2006...then completed in Sept 2007.

The buyer tyhen tried to "flip".

They were obviously waiting to see what the market was doing and buy at the priginal price, it was poetic justice when I saw both of them loose 10's of thousands when they finally sold in 2011

Somethings are worth posting twice :lol:

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