Tuesday, June 5, 2012

Great idea ! Bring in the wooden horse, what can go wrong!

Foreign buyers to drive London house prices up amid eurozone crisis, says Cebr

International demand for London property during the eurozone crisis will see a sharp widening of the north-south divide for house prices in 2012, says economic consultancy Cebr.

Posted by happy mondays @ 08:43 AM (2561 views)
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18 thoughts on “Great idea ! Bring in the wooden horse, what can go wrong!

  • As discussed recently, a stronger pound makes it harder to buy a property using euros.
    So, there would be a point at which demand would drop.
    Euro crisis strengthens pound. That is the theory;
    But UK economy needs customers who pay euros to buy our strong pound stuff.
    That might temper the extent to which the pound appreciates.
    Also, to assist trade, money printing ish effects could happen and weaken the value of assets bought in the UK.

    Moreover, why buy an asset at the top of the market?
    If UK property is not promised value rises year after year then
    It is not worth buying without strong negotiations for a discount.

    Maybe the think tank are correct but I don’t like the air of certainty in the way
    Such a story gets .. aired.

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  • happy mondays says:

    If i was looking some where to invest, London is massively overpriced so would not be taking part, Jubilee, Olympics or The pearly king & Queen could not convince me..

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  • charlie brooker says:

    So, people are coming in from abroad, propping up London house prices thus making property even less affordable for ordinary Britons.

    In times gone by, when foreigners came here and acted against our’ interests, we went to war. What better demonstration of money’s capacity to pervert patriotism and corrupt reasoning?

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  • happy mondays says:

    off subject – I heard in Iceland they got mortgage forgivness can anyone expand on this & could it happen here?

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  • Calling it a “eurozone” crisis is ridiculous. It’s a government debt crisis, and the UK is in the same crap as the rest.

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  • house prices only ever go up!

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  • “You can’t go wrong with bricks and mortar” (261,000 results on google)

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  • @CB “In times gone by, when foreigners came here and acted against our’ interests, we went to war. What better demonstration of money’s capacity to pervert patriotism and corrupt reasoning?”

    We’ve generally been acting against our own self interest for the last 50 years which is summed up by the following:

    To quote an old proverb and not Enoch Powell, “Those who the gods wish to destroy, they first make mad”

    And

    “Only two things are infinite, the universe and human stupidity, and I’m not sure about the former – Albert Einstein.”

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  • Charlie Brooker says:

    mr g, Top man for posting those quotes, especially the first one, which I had not previously heard.

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  • britishblue says:

    All the smart money has already left Europe. The rich elite were preaching that the Euro would go on forever, whilst they got their money out. Now its out they will be looking to buy back in countries that exit the Euro at hugely discounted prices at the right time, when the countries are stable. However,the foreign type of house buyers are not often distressed sellers, so if they do divest in London property it could take a number of years for it to trickle through, Much might depend on how the pound goes and the stability in their own countries. If the pound soars after a collapse of the Euro, then they may cash in. If it remains balanced, or their is threat of major civil unrest or high taxes at their home countries, it may have little effect. Also, the rich Chinese may be the new wave of buyers in London. Time for the treasury to cash in and put high taxes on foreign ownership!

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  • What next?

    “Nuclear war sends London house prices to fresh record”
    “Estate Agents tip Prime London property, citing latest anthrax attacks”

    It just beggars belief. This feels like market mania all over again.

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  • What next?

    “Nuclear war sends London house prices to fresh record”
    “Estate Agents tip Prime London property, citing latest anthrax attacks”

    It just beggars belief. This feels like market mania all over again.

    Reply
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  • “The rich Chinese may be the new wave of buyers in London” correct “the rich Chinese IS the new wave of buyers in London” and Russians and South American and Africans. The simply fact remains that if you are kind of person who made money from child labour, sex trafficking, drug dealing, blood diamond and political corruption etc etc, London properties is an incredibly cheap and easy way of laundering you money. Any other underworld methods would cost you a much higher “commission fee” around 30%. Whereas London properties are only around 5% -10%

    And the government think it’s perfectly normal that ordinary Londoner need to compete with guys like Gaddafi.

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  • mark wadsworth says:

    Mr G, another Einstein quote with which you will no doubt be familiar is “Men like Henry George are rare unfortunately. One cannot imagine a more beautiful combination of intellectual keenness, artistic form and fervent love of justice.”

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  • @11 peter_2008
    “And the government think it’s perfectly normal that ordinary Londoner need to compete with guys like Gaddafi.”

    You got it in one, pal. Hear, hear!

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  • London, the drugs, prostitution, criminal gangs’ money-laundering capital of the world, aided and abetted by our professional political elite, trained on the playing fields of Eton. I’m not sure I’d want to live there.

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  • MW

    Tolstoy also said “People do not argue with the teachings of Henry George; they simply do not know it. He who becomes acquainted with it cannot but agree.”

    And they’ll continue not to know it if The Henry George Foundation of Great Britain website doesn’t up it’s game and let visitors into the secret by giving more information.

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  • mark wadsworth says:

    Mr G, fair point. As to “more information”, people always ask me “how would it work?”, well you just apply commonsense. If a sensible person were tasked with raising £x00 billion in tax from land and buildings with a fairly known total value, how would he go about it?

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