Monday, August 8, 2011
Riots and house prices – causes and effects (open thread)
Foreign and international media have been showing the London riots in vivid HD glory. Switch on CNN, Al Jazeera, France24, Russia Today - they're all reporting riots in London. Not Tottenham, Brixton, etc.; but just London. How will this affect London's perceived desirability for foreign investors? Are they smart enough to distinguish between good and bad areas, given that there are few physical barriers between good and bad areas (unlike e.g. Manhattan)? Or will greed turn to fear, keeping buyers away? Comments welcome.