Sunday, January 13, 2008
London: Kiss the Russian oligarch good bye
Foreigners are rich (and now richer thank to the strong euro) but are not stupid. For foreign investors London houses have lost 10% of their "home currency" value in 2007. Expect no more demand from Euroland and the Oil Countries. "SOME of the City’s top professionals are betting that sterling will slide this year, making Britain one of the least attractive world markets in 2008 and throwing up better opportunities overseas."