Jump to content
House Price Crash Forum
Sign in to follow this  
Warlord

Russian and Chinese dirty money propping up the London property market?

Recommended Posts

33 minutes ago, shlomo said:

But is anything going to be done, it is just words so far.

I'd say Yes.

The Magnitsky law in US is pretty brutal. I'd guess Uks will be the same, it's been xeroxed from us and will be used as a proxy in the UK.

Share this post


Link to post
Share on other sites
5 minutes ago, spyguy said:

I'd say Yes.

The Magnitsky law in US is pretty brutal. I'd guess Uks will be the same, it's been xeroxed from us and will be used as a proxy in the UK.

So you think the UK government will start confiscating assets/London houses of people from certain locations. 

Share this post


Link to post
Share on other sites

I don't really buy all this money laundering hypocrisy .

If you're from a country with arbitrary government, like russia or china, you want to get your wealth out to stop your own government confiscating it. 

Yes, Nigerian money comes from embezzlement, but that's how it works in Nigeria.  Yes, Russian money comes from carving up national assets in a poker game; but again, that's how things work in Russia.  

Why should we care? And if we just steal their properties off them, then we're no better ourselves. 

It all seems to be a case of nanny telling Russians how to behave in their own country and nanny using that as an excuse for stealing herself. 

Share this post


Link to post
Share on other sites
8 minutes ago, spyguy said:

Yes.

Then all the dodgy money will stop coming to London, Our laundry will close down, and all the people who work in the laundry infrastructure will be on furlough and then soon unemployed.

"cause and effect" we will have a financial crisis. 

Share this post


Link to post
Share on other sites
2 hours ago, shlomo said:

But is anything going to be done, it is just words so far.

We've been in a decade (golden visas best year was 2014 and it boomed under BoJo when he was London Mayor).

Looks like the clown is offering peerages to Russian mobsters with money and press influence now.

Will anything be done? Erm...

Share this post


Link to post
Share on other sites
8 minutes ago, 24gray24 said:

I don't really buy all this money laundering hypocrisy .

If you're from a country with arbitrary government, like russia or china, you want to get your wealth out to stop your own government confiscating it. 

Yes, Nigerian money comes from embezzlement, but that's how it works in Nigeria.  Yes, Russian money comes from carving up national assets in a poker game; but again, that's how things work in Russia.  

Why should we care? And if we just steal their properties off them, then we're no better ourselves. 

It all seems to be a case of nanny telling Russians how to behave in their own country and nanny using that as an excuse for stealing herself. 

It's a nice "bridge" into our offshore tax havens as well. Stops nanny taxing it. Stops us building prole hospitals and other things as well I suppose.

Increase VAT, council taxes, and other bits to compensate. Who cares if the dodgy money prices the great unwashed out of homes anyway? I don't.

Edited by byron78

Share this post


Link to post
Share on other sites
4 minutes ago, byron78 said:

. Who cares if the dodgy money prices the great unwashed out of homes anyway? I don't.

I don't buy that either. Foreigners shielding their assets in London may affect chelsea and zone 1 but they don't affect Peckham or anywhere else.  

Its bank lending and only bank lending that caused this housing bubble. 

Blaming foreigners is just an excuse. 

Share this post


Link to post
Share on other sites
23 minutes ago, 24gray24 said:

I don't buy that either. Foreigners shielding their assets in London may affect chelsea and zone 1 but they don't affect Peckham or anywhere else.  

Ripple effect, pushing people out of zone 1.

Its not just Russian and Chinese (although they are the biggest groups), its from all over the world. I have come across quite a few South  and South East Asians who own London property (not just central, but nice suburbs too).

Its not just in the UK, there is dirty money going through every property market, and the Russians and Chinese are buying in a lot of countries.

 

44 minutes ago, 24gray24 said:

Why should we care? And if we just steal their properties off them, then we're no better ourselves. 

It is what UK law says, and it should either be enforced or abolished.

There is a good reason not to have them investing here: they buy influence and spread corruption. There are a lot of influential people and organisations in the UK (universities, politicians, business people) who are too closely linked to Russia and China. Its more of an issue with businesses than with property though - its really not a good idea to let thugs and crooks buy our businesses.

 

 

47 minutes ago, 24gray24 said:

Why should we care?

Because we care about human beings - the people of those countries who are being cheated and oppressed?

Share this post


Link to post
Share on other sites
1 hour ago, 24gray24 said:

I don't buy that either. Foreigners shielding their assets in London may affect chelsea and zone 1 but they don't affect Peckham or anywhere else.  

Its bank lending and only bank lending that caused this housing bubble. 

Blaming foreigners is just an excuse. 

I'd have a look at how many UK homes are foreign owned or held in offshore trusts now.

It's incredible really.

Lax lending has helped you proles keep up. But many of you also seem to have missed out now sadly.

Edited by byron78

Share this post


Link to post
Share on other sites
2 hours ago, 24gray24 said:

I don't buy that either. Foreigners shielding their assets in London may affect chelsea and zone 1 but they don't affect Peckham or anywhere else.  

Its bank lending and only bank lending that caused this housing bubble. 

Blaming foreigners is just an excuse. 

The Chinese are huge buyers all over the place here.

https://www.propertyinvestortoday.co.uk/breaking-news/2020/4/revealed--chinese-interest-in-uk-residential-property-soars-despite-covid-19

https://www.buyassociation.co.uk/2018/09/26/chinese-investors-look-to-the-north-west-for-uk-property-investments/

Lots of estate agents even have special outlets for the Chinese buyer - for example

https://www.winkworth.co.uk/china-desk/selling

Selling England by the pound.

 

 

Share this post


Link to post
Share on other sites
10 minutes ago, winkie said:

 

Thanks Winkie, on the ball as always, but I don't think the sound on there is at all that good (as an ex sound engineer).

Better the original where at least you can hear the words. Track one. Great song. Should be our anthem on HPC.

 

Share this post


Link to post
Share on other sites
3 hours ago, spyguy said:

Yes.

I'll believe it when I see it.

We have a lot of non-Russian Putin useful idiots here.

There's even quite a few in the House of Lords according to Bill Browder.

https://www.forbes.com/sites/oliverwilliams1/2020/07/21/uk-faces-russian-threat-from-within-its-own-borders/

There's so much Russian money here already, it's just a token gesture, as always with this government.

Share this post


Link to post
Share on other sites
4 hours ago, gp_ said:

 

It is what UK law says, and it should either be enforced or abolished.
 

Abolish it then and stop stealing people's property. 

It's just thieving in the end, from the same country that so enthusiastically stole Iraq's oil. 

If you stop banks increasing lending, there won't be a ripple effect, there won't be as much foreign money and there won't be a problem. 

All that's needed is 4m unemployed and banks having to pay the losses for their reckless lending. Instead of passing the loss to the taxpayer. 

Share this post


Link to post
Share on other sites
7 hours ago, shlomo said:

But is anything going to be done, it is just words so far.

Again, having Pols stand up and say 'We will not allow this disgraceful event to happen again.' is mealy mouthed words, hot air.

Creating a law means actions can occur an rogue parties pursued.

 

Share this post


Link to post
Share on other sites
1 hour ago, jonb2 said:

I'll believe it when I see it.

We have a lot of non-Russian Putin useful idiots here.

There's even quite a few in the House of Lords according to Bill Browder.

https://www.forbes.com/sites/oliverwilliams1/2020/07/21/uk-faces-russian-threat-from-within-its-own-borders/

There's so much Russian money here already, it's just a token gesture, as always with this government.

If theres so much Russian money here - I slightly disagree, as it's just a few 100 posh London houses, hardly regime undermining - then it gives a large stick to beat Putuns cronies with.

The far bigger threat is stopping rich Russinas pop to South of France or London n Paris fir shopping. Or stop their kids coming to UK schools.

Best way to deal with Russisn n Chinese is to force them to stay in their country.

Share this post


Link to post
Share on other sites
23 minutes ago, spyguy said:

I

Best way to deal with Russian n Chinese is to force them to stay in their country.

Then why would they send their money to dry clean?

Share this post


Link to post
Share on other sites
On 31/07/2020 at 16:11, stop_the_craziness said:

Thanks for this.  When I was explaining to my mum the other day that the London property market was an enormous money-laundering scheme she asked me if I also believe the earth is flat.  Ordinary people really, really do not believe that this sort of stuff goes on.

*cough* pizzagate *cough*

Share this post


Link to post
Share on other sites
On 01/08/2020 at 16:48, spyguy said:

If theres so much Russian money here - I slightly disagree, as it's just a few 100 posh London houses, hardly regime undermining - then it gives a large stick to beat Putuns cronies with.

Actually, the ones laundering cash are the looters fleeing Putin - holdovers and cronies from the Yeltsin years.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 404 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.