I spent most of the summer in London, and will be living there next year (and renting!). A 1000 sq. ft. flat is about $1.2 Million in central London. And rents for $2000 a month.
Guess what. That doesn't compute. But the ponzi scheme went into full effect there, out of control, and it's been slightly declining last year as owners refused to sell at the correct price, thus listings up. Now you'll see the full pop in 2006. Good market to consider for what you'll see here - we're about 8 months behind. Joy - Jubilation - Concern - Worry - Denial - Panic - Capitulation. They're in Denial, moving to Panic in 2006. We're in Worry.
Despite strong returns from equities so far this year, and an apparent ‘soft landing’ for the UK housing market, the latest investor confidence index from the Association of Investment Trust Companies (AITC) is a gloomy read.
The research suggests that the UK’s love affair with property investment is on the wane, whilst this year’s stock market rally seems to have made active investors jittery rather than jubilant.
Whilst 30% of the general population said they still thought the housing market would produce better returns than the stock market over the next year, this represents a sharp drop on the 40% who said this last February and 53% who said this in January 2003. In contrast just 9% of active investors agree the housing market will outperform
November 23, 2005
Posted by blogger at 11/23/2005