Social Justice League Posted December 31, 2020 Share Posted December 31, 2020 It looks like the New York property market is in a deflationary spiral which is going to destroy the city.......or so some are saying. If it's good for NYC then London has to be next.................Maybe the plan was always to crash worldwide property markets. The Chinese can then buy everything up at rock bottom prices. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 31, 2020 Share Posted December 31, 2020 Interesting Linkys? Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted December 31, 2020 Share Posted December 31, 2020 It looks like the New York property market is in a deflationary spiral which is going to destroy the city.......or so some are saying. If it's good for NYC then London has to be next.................Maybe the plan was always to crash worldwide property markets. The Chinese can then buy everything up at rock bottom prices. Links? Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted December 31, 2020 Author Share Posted December 31, 2020 I was watching a few Youtube videos about NYC and came across stuff like this - Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted December 31, 2020 Author Share Posted December 31, 2020 https://www.youtube.com/watch?v=OK1ffWaLyr4 Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted December 31, 2020 Author Share Posted December 31, 2020 Quote Link to comment Share on other sites More sharing options...
CityLAD88888 Posted December 31, 2020 Share Posted December 31, 2020 Wouldn't surprise me, I've seen similar commentary saying London will be toast post-covid, 2021 will be really interesting to watch in terms of where the dust settles. Home working is here to stay and everyone's looking for more space, plus all the lockdown job losses, some argue London's 'allure' will be enough to pull people back but even, say, a 20% drop in demand due to homeworkers fleeing would be material. Quote Link to comment Share on other sites More sharing options...
Philosopher Posted December 31, 2020 Share Posted December 31, 2020 Wouldn't surprise me, I've seen similar commentary saying London will be toast post-covid, 2021 will be really interesting to watch in terms of where the dust settles. Home working is here to stay and everyone's looking for more space, plus all the lockdown job losses, some argue London's 'allure' will be enough to pull people back but even, say, a 20% drop in demand due to homeworkers fleeing would be material. I would say London has two things going for it in the coming years. First, assuming there is a hybrid model of office and home working, working from home will result in cheaper office rents. Companies that are currently priced out of London and are located say in Slough may take advantage of the cheaper office rents and relocate their offices to London. In London they can more easily attract new talent and more easily network with other companies. This argument probably applies to New York City too. Second, as it the capital, MPs live there much of the time and so have a vested interest in making London a desirable place to live. After all no one wants to live in dump. Given they have quite a lot influence this could be a big factor in London’s future success. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 31, 2020 Share Posted December 31, 2020 I would say London has two things going for it in the coming years. First, assuming there is a hybrid model of office and home working, working from home will result in cheaper office rents. Companies that are currently priced out of London and are located say in Slough may take advantage of the cheaper office rents and relocate their offices to London. In London they can more easily attract new talent and more easily network with other companies. This argument probably applies to New York City too. Second, as it the capital, MPs live there much of the time and so have a vested interest in making London a desirable place to live. After all no one wants to live in dump. Given they have quite a lot influence this could be a big factor in London’s future success. So the tendency to decentralisation will benefit central cities? Wtaf? Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted December 31, 2020 Share Posted December 31, 2020 (edited) I would say London has two things going for it in the coming years. First, assuming there is a hybrid model of office and home working, working from home will result in cheaper office rents. Companies that are currently priced out of London and are located say in Slough may take advantage of the cheaper office rents and relocate their offices to London. In London they can more easily attract new talent and more easily network with other companies. This argument probably applies to New York City too. Second, as it the capital, MPs live there much of the time and so have a vested interest in making London a desirable place to live. After all no one wants to live in dump. Given they have quite a lot influence this could be a big factor in London’s future success. Agreed. A period of readjustment, perhaps, but there'll still be some attraction to living in London or NY. NY was supposed to be finished in the 70s/80s, and London wasn't much better, so I'm sure both can reinvent themselves again. I'd say that despite Covid, the long term trend will continue to towards big cities. Edited December 31, 2020 by mattyboy1973 Quote Link to comment Share on other sites More sharing options...
Wayward Posted December 31, 2020 Share Posted December 31, 2020 Agreed. A period of readjustment, perhaps, but there'll still be some attraction to living in London or NY. NY was supposed to be finished in the 70s/80s, and London wasn't much better, so I'm sure both can reinvent themselves again. I'd say that despite Covid, the long term trend will continue to towards big cities. I agree, cities rise and fall and rise again...cycles. Quote Link to comment Share on other sites More sharing options...
winkie Posted December 31, 2020 Share Posted December 31, 2020 So where would peeps wish to live?.......one place, or a combination of two or more places...... variety is the spice of life, boredom can be monotonous. Quote Link to comment Share on other sites More sharing options...
Philosopher Posted December 31, 2020 Share Posted December 31, 2020 So where would peeps wish to live?.......one place, or a combination of two or more places...... variety is the spice of life, boredom can be monotonous. Well if money was no object I suppose the ideal is a townhouse in the city and a house in the countryside. That way you get the best of both worlds. Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted December 31, 2020 Share Posted December 31, 2020 Aside from the surge in dumb as poop from the entitled don't learn and don't work brigade - which would be put down once the lame orange duck is out - I can't see an issue. NYC is pricey because so many people want to go and live there. USA is very different to the UK, not uncommon at all to have a 'beach house' or lake house and head out there at weekends. Once covid is done with I can't see a long term issue, only short term while it finds its feet again. Quote Link to comment Share on other sites More sharing options...
steve99 Posted December 31, 2020 Share Posted December 31, 2020 New York is different in that it taxes residential property heavily compared to London where council tax is dirt cheap by all international standards at the top end of the market. Was there last year and took an interest in apartments (well the estate agents windows) and could see why prices were somewhat less than London or Australia when the annual cost of ownership is so high. This is why every rich person in the world owns a place in London, its cheap to keep, financially safe and a good place to be if you have money to spend. Scummy landlords may well get some punishment in London going forward but prime property might be even more in demand. Quote Link to comment Share on other sites More sharing options...
Si1 Posted December 31, 2020 Share Posted December 31, 2020 I agree, cities rise and fall and rise again...cycles. Like Amsterdam and Liverpool? Oh hang on.... Quote Link to comment Share on other sites More sharing options...
steve99 Posted December 31, 2020 Share Posted December 31, 2020 So where would peeps wish to live?.......one place, or a combination of two or more places...... variety is the spice of life, boredom can be monotonous. I would follow the rich mans/woman's climate in choice of place to live. Caribbean in winter with a stint in the Swiss alps for skiing, spring somewhere south in Europe then London for Wimbledon and a bit of the summer and much time on my Yacht in the Med. All punctuated with weekends in whatever city takes my fancy. Then repeat as many times as possible till I cant walk, swim or feed myself no more. Quote Link to comment Share on other sites More sharing options...
satsuma Posted December 31, 2020 Share Posted December 31, 2020 Personally I don’t get the attraction of living in NYC apart for those looking for work experience or to work in certain companies. If the home working trend continues I can see many cities entering a deflationary cycle, people will travel in or rent near those companies that insist on face to face time. However, this will push up prices in other places initially before pulling everything down with it. Once deflation takes hold it’s hard to stop as people decide to wait before making purchases. Printy printy will of course be brought to the fight, barrow loads of it. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 1, 2021 Share Posted January 1, 2021 The Most Splendid Housing Bubbles in America: December Update on House Price Inflation Gone Wild by Wolf Richter • Dec 29, 2020 • 206 Comments https://wolfstreet.com/2020/12/29/the-most-splendid-housing-bubbles-in-america-december-update-on-house-price-inflation/ "New York metro condos: Not to be confused with Manhattan condos that are now undergoing a reckoning, Case-Shiller’s index for New York City condos includes all of New York City plus numerous counties in the states of New York, New Jersey, and Connecticut “with significant populations that commonly commute to New York City for employment purposes.” In these vast and diverse markets, the index for condos has essentially been flat since late 2017 and is down a smidgen year-over-year and from the peak in October 2018:" Great related vid THE WOLF STREET REPORT: American Debt Slaves in the Weirdest Economy Ever https://wolfstreet.com/2020/12/27/the-wolf-street-report-american-debt-slaves-in-the-weirdest-economy-ever/ This need an update .... 40% of N.Y. Tenants May Not Pay Rent This Month. What Happens Then? https://www.housepricecrash.co.uk/forum/index.php?/topic/236254-40-of-ny-tenants-may-not-pay-rent-this-month-what-happens-then/ Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 1, 2021 Share Posted January 1, 2021 (edited) as for LA.... Downtown LA is Now HELL!! https://www.youtube.com/watch?v=vcXnAQO8FsI Homeless encampment the real skid row Downtown Los Angeles california https://www.youtube.com/watch?v=j73cjA1IcJw Edited January 2, 2021 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.