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janch

China's Imminent Property Crash Spilling Over In London?

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Whatever happens, it'll be the chinese's fault. Says the vile BBC.

I don't know about it being the fault of the Chinese.

It might have been a good idea for the rest of the world not to bet the farm on everlasting growth of the Chinese economy.

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And China confirms absolutely that building does not bring down prices. So I wish the ejits on HPC who call for more building to bring down prices would shut up.

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Only made it many times.

And Spain, Ireland - crashed due to credit crunch.

And not land mass - Australia, Canada.

Credit crunch also brought down US.

COMMON DENOMINATOR? New build? No. Investments? No.

LENDING!!!!!!!!!!!!!!

#BANHTB

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"It's a real problem," he concedes. "Many cities have an oversupply of housing."

If only we could enjoy such a problem in England.

Actually we have plenty of houses .... they're just owned by landlords (80% of new builds no less!)

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Only made it many times.

And Spain, Ireland - crashed due to credit crunch.

And not land mass - Australia, Canada.

Credit crunch also brought down US.

COMMON DENOMINATOR? New build? No. Investments? No.

LENDING!!!!!!!!!!!!!!

#BANHTB

When I point out the above to people....they go very very quiet.

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Quite....do you see masses of people sleeping on the streets ?

Nope.

Watching Peston's show last night (I use the word "show" as he's such a drama queen even when presenting "facts")....

anyway. All these new build cities sitting empty. And no doubt many homeless all over their Kingdom. However, the central planners would never think of moving them all to these cities and giving them a house/flat for free. Generating economic activity, growth, getting them off the streets etc. Why is that ?

They don't strike me as being very communist in their thinking. ;) I use a small "c", btw.

The Chinese authorities are obviously v worried about social unrest exploding if their crash gathers pace.

I think it's only a matter of time before the old Commies are pushed out. To be replaced by what, is the question.

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Actually we have plenty of houses .... they're just owned by landlords (80% of new builds no less!)

I have lived in Oxford there most certainly is not over supply in this area.

We have an old decaying housing stock that should have been knocked down long ago, build new and let this happen.

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We have an old decaying housing stock

This is something that is not picked up on very often and definitely a problem around Northants.

The housing quality is **** poor and these badly built ageing, crumbling houses apparently cost more and more each year.

Pull the ***king other one.

Edited by TheCountOfNowhere

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From the bbc link


"No one wants to live on this side of the river," explains a resident of the nearby old town. "It's too far from everything. There are no jobs. It's a complete waste of money.""No one wants to live on this side of the river," explains a resident of the nearby old town. "It's too far from everything. There are no jobs. It's a complete waste of money."

To be fair it's no surprise nobody wants to live there. From the photos there's no glass in the windows and probably the internals are completely unfinished. They clearly were never built to be lived in - and of course the people know that.

Their London property developments are built on a similar principle - priced too expensive to live in.

They've managed to come up with a completely new and amazing global policy - new homes that can't be lived in.

Edited by billybong

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I have lived in Oxford there most certainly is not over supply in this area.

We have an old decaying housing stock that should have been knocked down long ago, build new and let this happen.

Are there lots of people rough sleeping in Oxford? And I didn't mention oversupply.

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Only made it many times.

And Spain, Ireland - crashed due to credit crunch.

And not land mass - Australia, Canada.

Credit crunch also brought down US.

COMMON DENOMINATOR? New build? No. Investments? No.

LENDING!!!!!!!!!!!!!!

#BANHTB

When I point out the above to people....they go very very quiet.

Yup they both had a massive oversupply ... some will never be happy though

The Irish population grew by 4,499 people over 2014, and 11,016 new residential units were completed in Ireland in 2014.

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From the bbc link

To be fair it's no surprise nobody wants to live there. From the photos there's no glass in the windows and probably the internals are completely unfinished. They clearly were never built to be lived in - and of course the people know that.

Their London property developments are built on a similar principle - priced too expensive to live in.

They've managed to come up with a completely new and amazing global policy - new homes that can't be lived in.

Is this not exactly what you would expect in a Ponzi speculative bubble where the real world human use of an asset becomes completely detached from its

price ?

In such markets speculation is the sole function so why waste money on building and fitting out real property for people to live in when Potempkin facades will do the job just as well.

Edited by stormymonday_2011

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