They’d rather leave them empty than rent lower to common (non-white collar) workers.
Socialism caused a lot of that. Especially Silicon Valley funny money inflating local demand.
Meanwhile, new-build units are sold at silly tulip bulb prices to the Chinese, as deposit boxes with a door. The banks are playing the foreclosure scam with desperate foreigners, who aren’t protected by US law as non-citizens.
Globalism caused that. Thanks, libertarian “globalization”*! Treason always comes with a free side of money laundering.
[The banks need to borrow against ‘real’ assets, the ‘real’ in ‘real’ estate.]
*It isn’t free trade at all when one country is cheating with labour slavery. This is de-nationalization, a nation slowly dies. Like Jenga, China is removing your lowest blocks first. Who do you need in a war, manual labour or pen-pushers?
The police, like teachers, believe in the magical pensions. It’s supposed to be earned on the basis of the people they oppress, their sweat, not their blood. You couldn’t treat the enemy like this in a war. The banks should be up on genocide charges and international warfare via the monetary corruption.
past and to come
“19.21: immigrants as a share of population
17.71: 10-year percentage increase in housing prices”
The proper term for libertarians (the modern, post-60s kind) is race traitor.
“Why don’t millennials just move out, LOL?”
Corruption in allowing foreigners with fake money to literally buy your land.
How to win a war without a single casualty, get a traitor to sell you the keys.
“Drained whirlpools, decaying walls and foliage creeping up the stairs can be seen on a North London street called Billionaires’ Row. Bishops Avenue in Hampstead, north London, is one of the most exclusive roads in the country, but many of its 66 mansions lie vacant. Footage taken by ‘urban explorers’ shows moss growing up the once pristine white walls of the huge rooms and swimming pools with a shallow layer of murky water. The gardens rise high and in many the decor is clearly a few decades behind.
Public health risks.
They include a selection of residences worth £73 million, reportedly bought for the Saudi royals between 1989 and 1993. In those days the homes caught be purchased for a cool million, now prices rise to around £20 million. In 2014, an estimated £350 million worth of mansions could be found on the prestigious street, the Guardian reported.
If you cannot safely live in it, the value is negative.
An Iranian resident told the paper: ‘Ninety-five percent of the people who live here don’t actually live here. It is a terrible place to live really.”
-houses are not really assets, they produce nothing, they are rotting boxes, they depreciate immediately and require, clearly, a lot in maintenance costs (especially proper, old well-built mansions, whose roof caves in if you don’t.
The most “valuable” street in the country, in decay because Muslims own it and the native population isn’t allowed a look in. Hang the estate agents, they’re traitors to this nation.
Look what the Muslims did to the fertile, rich, black soil of Egypt – they do it with everything else too.
We have fiat houses – abandoned and worthless unless you pour money into repair, valued obscenely.
Non-whites are playing shell games with our very homeland, while young people cannot afford to move out, to marry and breed. That is a form of genocide, preventing births in the native population.
But at the least the anti-white Boomers get to flatter themselves on their “brilliant” investment in a white box, which the bank assures them really IS worth all that money (so please keep getting into debt) and they can totally use as a pension… because that’s how finances work. You can have your cake and eat it.
[Seriously, most Boomer homeowners bought it as a pension, ask them, that’s why they voted for immigration.]
It is not a question of if this bubble pops, but when. Boomers are already starting to die (alcoholism, drugs and STDs will tend to shorten one’s lifespan), meaning we have a 20y max window, tick tock. Buy to letters are a cancer.
If Hitler or Stalin knew they could simply ‘buy’ England from the (banks) with imaginary money, they would’ve saved themselves a lot of scrap metal.
I’ve already posted the known fact (even covered by the BBC) that UK property is only afloat by dodgy foreign shell companies, either not maintained or gutted to be postmodern shells, contrary to skyline and grade listing law.
Traitors, the lot. They even hire foreign builders that violate safety requirements.
Let them all ‘lose’ the imaginary fantasy bank/real estate collusion ‘valuations’.
LET THEM FAIL. Permanent renters needing to, to live are called serfs, this is an illegal situation of war between generations, propped up with the artificial ‘demand’ of banana boats and the legal strings of fraudulent collusion.
Tell me: where does a house magically gain value?
How does the rotting box produce value for itself?
We have a Communist housing market, here.
For those who don’t know, huge families off the boat are allowed to live in London (instead of the people working there and paying taxes, who must commute) because the housing people charge the maximum by an order of magnitude (eye watering sums) to the Gov for using the property.
Implement rent controls – for council run property ONLY.
[The whites would never pay those prices, it’s fraud.]
Also, end the fraud of dual citizenship. You’re loyal to one military and one military only. No open borders hopping.
No more corset controls on the banks since 1979/80. Goodhart pre-empted it.
Now they loan to things that don’t boost GDP including mortgages.
It’s included in debt to GDP though.
Boosted in addition to the retarded notion of a crumbling hovel being a “retirement” fund.
Funds and other assets don’t depreciate.
Don’t bail out bad property investors, they’re idiots.
You wanted the reward, the risk is also ALL yours.
The ‘competition and credit control’ reforms, which removed direct controls on bank
lending, had been introduced in September 1971 and a dramatic surge in bank
intermediation, leading to broad money growth rates in excess of 25%, had resulted in
1972 and 1973. The conclusion drawn by policy makers in 1973 was that the only
option was to supplement monetary targets with direct controls on banks through
Supplementary Special Deposits known as ‘the Corset’ (See Zawadzki, 1981).
Modest interest rate changes seemed powerless in the face of this monetary expansion
and the previously stable money demand function seemed to have broken down. This
was clear well before 1975, but Goodhart (1975b) was a summary of the current
problems of monetary management, as the title suggests.
So Labour want rent controls but not bank controls.
I wonder (((why))).
Goodhart’s Law is the statement missing from the square brackets in the quotation
above. It says: “Ignoring Goodhart’s law, that any observed statistical regularity
will tend to collapse once pressure is placed upon it for control purposes”.
“Houses as Collateral”
“First were the removal of exchange controls in 1979 and the direct control of bank lending (“the corset”) in 1980″
“The abolition of exchange controls in 1979 and the abolition of the last of the quantitative controls on bank lending heralded a period of rapid deregulation and increased competition in British banking during the 1980s”
They weren’t more productive in the 80s, they stole from the future (you).
Orwell wouldn’t have thought of this.
Notice the focus?
Liquid assets, especially jewels, difficult to trace themselves.
If you don’t have the paperwork for those family jewels, guess what?
They don’t DARE look into real estate purchases by foreigners.
50 million mansion versus 120k necklace?
Stunning and brave.
“An article in this week’s New York Magazine suggested that one of the reasons for the shift from London to New York was the more favourable tax regime on the western side of the pond, with those buying into new builds receiving tax breaks while in the UK, penalties have been imposed on foreign “non-doms” in recent years. “
No state control and complaints.
“Manhattan’s real estate market has become the latest destination for wealthy foreigners keen to park their wealth, a safe haven in an uncertain world where no one asks questions and discretion is assured.”
Fear of collapse.
“In many cases, buyers from places such as Russia, China or Argentina, where even the super-wealthy fear the whims of an undemocratic government [wealth stealing] or uncertain currency, have been snapping up apartments with such hunger that they often don’t bother going for a viewing, making the purchase via a phone call with a specialist broker, let alone live in their new property.”
The London market is oversaturated.
“However, according to the Knight Frank Global Cities Survey, New York last year moved into second place behind London as the most important city in the world to the super-wealthy, ahead of Geneva, Dubai and Paris.
Knight Frank predicted that the Big Apple would go on to overtake London within a decade.”
Supply and demand hits the champagne socialists.
“These type of properties, which tend to be cheap compared to their equivalents in Hong Kong, and especially London, were until recently just about affordable to native New Yorkers on a decent salary, who are now find themselves priced out.”
“Brazilians, Argentines and other South and Central Americans are also attracted to New York, being closer than London and with a far more stable economy and currency than their own.”
Disagree there. London is more stable.
“That means the demand for property in both London and its New York rival from foreign buyers with a spare million or ten to spare isn’t going to slow any time soon.”
Property doesn’t go anywhere. Feudal investment strategy.