61–70 of 216 posts
Earlier quoted context omitted.
There is. It's full. (Most of the towns in the southeast of England are dominated by commuters to London)
What about the other directions? How many people commute from Birmingham, for example? It's only 126 miles away? That's a 30 commute sometime this century. It's really just a question of when.
The Onion proves itself prescient yet again: http://www.theonion.com/article/report-nations-gentrified-ne...
nottheonion: http://i.imgur.com/jb61R2B.jpg
> ...many Palo Altans said the project was too big and moving too fast. "It just seems to me that a billionaire can come in and get whatever he wants and run roughshod over average millionaires like myself," said Crescent Park Neighborhood Assocition presi...
In DC, there's a big glut in foreign capital flowing in from foreign oligarchs and elites, particularly from Russia and China. Residential properties in so-called "safe cities" are both a form of investment and a potential life-raft should the political situation change in their nations.In addition to the artificially low supply created by extreme height limitations, this has caused prices to skyrocket. The apartment…
I feel like there is a massive opportunity to be had here from managing and renting out these places.
Earlier quoted context omitted.
Why do you think they're crappy? I'm not sure what the price range under discussion is, but here are a few from Mayfair. £11M, seems fancy: http://www.zoopla.co.uk/for-sale/details/40591729 This one seems to be in a new building, £32M: https://www.onthemarket.com/details/2192886/ (home automation, panic room, aquarium etc; would suit criminal mastermind...) This is much cheaper, £2.6M: http://www.zoopla.co.uk/for-sal…
Sorry for the flash. http://www.crackshackormansion.com/index.html
I didn't give this link before as there are no pictures, but the first hit from my previous search was this one — £60M, marble throughout and a swimming pool: http://www.primelocation.com/for-sale/details/41341420
The Onion proves itself prescient yet again: http://www.theonion.com/article/report-nations-gentrified-ne...
Earlier quoted context omitted.
Not sure if you are being sarcastic. The buyers driving up prices don't live in London. From the article: "Today, 60 percent of properties for sale in this part of London go to international buyers."
Can't we solve this problem with virtualization? Build houses in the middle of nowhere, but assign a central London address.
The recent Vancouver tax changes have worked, I suspect/hope we'll start seeing that repeated in every city thats had it's life sucked out
Earlier quoted context omitted.
They don't want to make a few percent on their capital?
People who can afford to buy overseas property for cash "just in case" are probably not worried about making an extra $3k/month, not if it adds the headache of being a landlord.
http://www.nestoria.co.uk/mayfair/property/rent/2?price_min=...
But either the owner isn't interested in the money/hassle/attention, or occasionally uses the property — it's difficult to show off your fancy London apartment if people are living in it, and you can't casually lend it to friends or relatives.
Earlier quoted context omitted.
Vancouver recently enacted an anti foreign buyer tax that seems to have almost completely stopped the practice. Curious if we will start to see more and more of this local protionism.
Unless every desirable city introduces this tax uniformly, doesn't this just shift the burden from Vancouver onto other cities?
I don't see a problem here. The problem will correct itself eventually, with regular citydwellers all moving to cities smart enough to enact these laws, and abandoning cities like London that become completely unaffordable. Eventually the latter cities will collapse, and these wealthy foreigners' properties will be worthless, like all the $100 houses in Detroit.