Back during the early stages of the bubble, I used to read the UK bubble blogs because we didn’t have any here yet (other than the bullish, troll-infested WSJ blog) — thank you Rich, for fixing that!!! 🙂
What they’re saying makes perfectly good sense to me. They are 100% right.[/quote]
That’s interesting. I got the feeling CA was a little ahead of the curve. There is a site called housingpricecrash.co.uk which is big and well attended. I read the same stories as on here (well, on Piggs a while back) and Redfin’s forums etc. Seems Gordon Brown had the benefit of US hindsight and pulled the UK up by it’s socks, with very little real correction in prices. Be interesting to see how things play out there. London was always a good place to invest because of it’s strong rental market. I’m betting cap rates are around 2-3% for inner city apts now.
