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 Post subject: Re: London has popped ,
PostPosted: Mon Jun 20, 2016 9:10 pm 
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Old Time Landlord

Joined: Jun 7, 2011
Posts: 351
The London property market is doomed, doomed I tells ya

Yes, yes, we know, people will keep buying property in London no matter the price, no matter the Brexit, no matter the sheer insanity of it all.

But, there’s a credible bear case to be made that regulatory and tax changes in the buy-to-let market — known colloquially as the ‘evil landlord’ sector — are about to prick what has become a very sizeable bubble.

Last week, Deutsche Bank analysts Oliver Reiff and Markus Scheufler made that case over about 70 pages, arguing that for any rational investor, the economics of buying London property have been hammered.


http://ftalphaville.ft.com/2016/06/20/2 ... -tells-ya/


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 Post subject: Re: London has popped ,
PostPosted: Fri Jun 24, 2016 8:29 am 
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Under CAB Investigation

Joined: Jun 5, 2008
Posts: 1997
Location: I like Dalkey
Will be fascinating to see the Brexit fallout here.

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 Post subject: Re: London has popped ,
PostPosted: Fri Jun 24, 2016 8:56 am 
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Joined: Oct 29, 2007
Posts: 11209
Location: Multiverse
Homeboy wrote:
Will be fascinating to see the Brexit fallout here.


House building shares getting crucified in particular.


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 Post subject: Re: London has popped ,
PostPosted: Fri Sep 02, 2016 7:28 am 
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Posts: 14730
London's elite 'pushed out of exclusive postcodes by super rich' - -> https://www.theguardian.com/uk-news/201 ... super-rich

Quote:
London’s traditional elite, such as lawyers, architects and academics, are being pushed out of their enclaves in Mayfair, Chelsea and Hampstead by an influx of global super rich investors, causing a chain reaction of gentrification across the capital, according to research by the London School of Economics.

An influx of extremely wealthy overseas buyers is leading the old elite to sell up and move from London’s most exclusive postcodes and buy in areas they previously considered undesirable, said Dr Luna Glucksberg, of the LSE’s International Inequalities Institute.
Fenced off: how London’s super-rich are destroying the soul of their community
Read more

This displacement of old money and affluent middle class professionals is in turn pricing neighbourhoods in south and east London out of the reach of average Londoners and threatening to push those on low incomes to the margins of the city and beyond, she added.

there is more


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 Post subject: Re: London has popped ,
PostPosted: Sat Jan 07, 2017 8:11 am 
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Location: Australia
http://metro.co.uk/2016/05/02/these-new ... h-5855110/


Basically modern tenements


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 Post subject: Re: London has popped ,
PostPosted: Sat Jan 07, 2017 11:48 am 
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Real Estate Developer

Joined: Oct 7, 2014
Posts: 879
Blindjustice BATONEFFECT wrote:
http://metro.co.uk/2016/05/02/these-new-twodio-apartments-could-be-the-future-of-flat-sharing-but-theres-a-catch-5855110/


Basically modern tenements


That is absolutely, definitely not hyperbole.

One of my main memories of reading about 19th century tenements was how the cinema rooms were always over subscribed.


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 Post subject: Re: London has popped ,
PostPosted: Sat Jan 07, 2017 12:08 pm 
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I'd have happily paid a premium to live somewhere like that rather than the small grotty house I shared in Ranelagh with five others.


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 Post subject: Re: London has popped ,
PostPosted: Sat Jan 07, 2017 12:48 pm 
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Too Big to Fail

Joined: Apr 4, 2010
Posts: 4317
Blindjustice BATONEFFECT wrote:
http://metro.co.uk/2016/05/02/these-new-twodio-apartments-could-be-the-future-of-flat-sharing-but-theres-a-catch-5855110/


Basically modern tenements


They're more or less student halls.

As an aside, to me "tenement" suggests something like the Glasgow or Edinburgh examples, which are decent, high density urban housing, much like the Iveagh Trust flats in Dublin, in both layout and atmosphere. I keep having to remind myself that the word has different associations here.

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People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.


Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations
Book I, Chapter X, Part II,


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 Post subject: Re: London has popped ,
PostPosted: Sat Jan 07, 2017 1:08 pm 
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Location: To the right of the decimal place
Yeah it's like a "trolley" instead of "a bed with wheels". Even if it's functionally fine the term attracts outrage.

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 Post subject: Re: London has popped ,
PostPosted: Sun Jan 08, 2017 9:09 am 
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Planning Tribunal Attendee

Joined: May 12, 2012
Posts: 1417
Once stuff like fire safety is taken care of , there is nothing wrong with living in very small places.

All of these attitudes are just snobbery.


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 Post subject: Re: London has popped ,
PostPosted: Sun Jan 08, 2017 9:37 am 
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Planning Tribunal Attendee

Joined: Jan 28, 2013
Posts: 1290
Skippy 3 wrote:
Once stuff like fire safety is taken care of , there is nothing wrong with living in very small places.

All of these attitudes are just snobbery.


As long as the price is right, if not then it's desperation or stupidity.


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 Post subject: Re: London has popped ,
PostPosted: Sun Jan 08, 2017 9:38 am 
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Planning Tribunal Attendee

Joined: May 12, 2012
Posts: 1417
Scratcher wrote:
Skippy 3 wrote:
Once stuff like fire safety is taken care of , there is nothing wrong with living in very small places.

All of these attitudes are just snobbery.


As long as the price is right, if not then it's desperation or stupidity.


So people should not be free to make their own mistakes?


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 Post subject: Re: London has popped ,
PostPosted: Sun Jan 08, 2017 11:26 am 
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Property Magnate

Joined: Jan 17, 2014
Posts: 617
Skippy 3 wrote:
So people should not be free to make their own mistakes?


By that logic, people should be free to borrow and lend without state interference. If a borrower in an unstable job can find a lender willing to lend him 12 times his salary, based on forward earnings from rent-a-room, the central banks shouldn't intervene, because it's important for people to be free to make their own mistakes.

I'm just saying that, outside the USA, people don't really accept that kind of philosophy as a guide to real-world rule-making any more. We look at schoold shootings and economic implosions and go "wow, when a tiny minority of people make the same mistake, they can end or ruin the lives of massive numbers of people around them".

There's nothing wrong with allowing people to wreck their own lives. The problem comes when this sets off a chain reaction which wrecks many other peoples lives. People who had no input into the life-wrecking decision.

And the laissez-faire approach doesn't even account for the fact that the world is now industrialised and highly crowded. When Adam Smith and David Ricardo were plying their ideas, the world was overwhelmingly agricultural and lit by candles. When economic collapses occurred because people were free to make mistakes, unemployed workers could get agricultural work because machines weren't good enough yet to entirely replace human labour economically.


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 Post subject: Re: London has popped ,
PostPosted: Sun Jan 08, 2017 3:48 pm 
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Under CAB Investigation

Joined: Apr 9, 2014
Posts: 1657
Scratcher wrote:
Skippy 3 wrote:
Once stuff like fire safety is taken care of , there is nothing wrong with living in very small places.

All of these attitudes are just snobbery.


As long as the price is right, if not then it's desperation or stupidity.

£1,100 per month or €1,300 thanks to a 20% fall in sterling :)


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 Post subject: Re: London has popped ,
PostPosted: Wed Jan 11, 2017 5:07 pm 
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Too Big to Fail
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Joined: May 6, 2008
Posts: 3929
Location: the nearest faraway place
Quote:
Traders were quick to offload shares in the London agent as investor fears mounted about the state of the housing market in the capital. Shares were down 12% at 87p as the update was released, and were trading down 6% at 93p by 9am.

It marked a big change in fortunes for Foxtons, whose shares were valued at 230p when it floated in 2013 and hit 373p in early 2014
.
https://www.theguardian.com/business/20 ... erty-sales

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Those who don't study history are doomed to repeat it. Those who do study history are doomed to watch everyone else repeating it.


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