Re: And they say the property market is falling ?

On Fri, 18 Apr 2008 22:46:49 +0100, "john jardine"
<john.jardine@xxxxxxxxxxx> wrote:


"John Larkin" <jjlarkin@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx> wrote in message
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On Thu, 17 Apr 2008 23:53:28 +0100, "john jardine"
<john.jardine@xxxxxxxxxxx> wrote:


"Eeyore" <rabbitsfriendsandrelations@xxxxxxxxxxx> wrote in message
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This one's on sale just about 50 yards from me.
http://www.rightmove.co.uk/viewdetails-17369749.rsp?pa_n=1&tr_t=buy

That's a MILLION dollars !

Graham


The South sneezes and us oop North catch flu. This one was £3 million 6
months ago :)
http://www.rightmove.co.uk/viewdetails-14697977.rsp?pa_n=19&tr_t=buy


Egad, dropped by a factor of six?

Around here, houses go for 300-500 k$ per bedroom, with very little
land, so that's not a bad deal at all.

John

Sadly twas an untruth on my part. Just a wry comment on the pricing
differentials across the UK.
Like for like, properties in St Albans, Harpenden etc can take a 600% price
premium compared to those further North.
So a S.F. 3 bedroom could run to $1.5e6. Jeez, that's almost London
pricing!.


You can get a dumpy fixer-upper in a bad neighborhood for less, maybe
$200K per bedroom. A few years ago, word got around that San Francisco
was cheap by world standards (Moscow, London, Seoul, Tokyo) and that
condos here would be a good investment. So there are cranes everywhere
you look, building tens of thousands of ugly high-rise condos. They're
all rushing to get to market now, probably anticipating a bust like in
Florida. I can't imagine where all the jobs could come from to fill
them.

The commercial market boomed amazingly in the mid-late 90's, and
crashed with the dot.com bust. It's just now recovering. We bought our
workplace, a former fortune-cookie factory, just about at the bottom.
I know too many people who bought their houses at the peak.

Something weird is going on economically that I don't understand. I
think maybe there's too much money around but not enough good ways to
invest it.

John

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