Saturday, December 27, 2014

Foreign owners seizing on the London housing market

Londoners miss out as homes built as ‘safe deposit boxes’ for foreign buyers

The control of plans for tens of thousands of new homes in London is now in the hands of foreign investors who are increasing their grip on the capital’s prime property assets, figures obtained by the Guardian have revealed.

Posted by debtserf @ 01:25 PM (2632 views)
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2 thoughts on “Foreign owners seizing on the London housing market

  • It’s probably naive to expect UK government to do anything about it.

    The Whitehall politicians are far too self-serving, and in fact, probably stand to do rather well out of it.

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  • It is probably naive to consider that the UK government has any power to do anything. The government is just one player in these complex global capital flows. It feeds off the currents, could choke them off with high taxes and bring in less tax overall, but the government does not control them.

    Really, the issue is how to harness the capital flows. Slash taxes on production, and money will flow into factories, etc. That is the only solution. Capital follows yield, security and the path of least resistance in terms of tax and regulation.

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