Friday, Oct 09, 2009

Slums of the future.

BBC News: Financial shadow cast by city apartments

Grey, concrete, 16-storey Thames Tower is typical of the newly-built or renovated apartment blocks thrown up across cities in the UK in recent years.
It dominates the skyline on the northern tip of Leicester city centre, overlooking the inner ring road and the edge of the shopping district.

Posted by flintster1994 @ 08:30 AM (856 views)
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1. flintster1994 said...

Following on from the article;

Friday, October 9, 2009 08:31AM Report Comment

2. tenyearstogetmymoneyback said...

I was about to post flintster's link myself.

They are really pushing this this morning with two prominent articles on the business page.

I think this has caught a lot of people by surprise. Most people assumed that the worse that could happen was that they would loose
their deposits. However, as an earlier article pointed out why should people who have committed to buy get off more lightly than those
who have actually moved in.

Friday, October 9, 2009 08:46AM Report Comment

3. inbreda said...

interesting to note that the only reason the developer defaulted to the bank was that the bank wouldn't lend to the buyers. Almost as if the whole cycle was in the hands of the banks but they chose to cut off their noses to spite their faces.

Friday, October 9, 2009 09:11AM Report Comment

4. nomad said...

I question the UK flats and maisonettes drop of 19.5% from Jan 08 to May 09. This merely reflects the whole housing market - I have always assumed that those types of property would be suffering a greater fall and thus skewing the overall figures.

Surely the rises and falls aren't consistent across all types of property.

Friday, October 9, 2009 10:41AM Report Comment

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