Ups and downs in the luxury real estate markets as usual – no one knows which end is up it seems.
Following the exciting news last month that China’s property prices rose at the second fastest pace on record – 12.4% following a record 12.8% in April, along with a 70% drop in sales volumes, which makes one wonder as to exactly what is going on - now comes the shocking news that Shanghai’s average new luxury home prices dropped 13% in July from April. It appears as though the attempts by the Chinese Government Inc to prevent another asset bubble are working/not working/ no one has a clue – depending on whether you are an analyst or a real estate agent.
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Lots of ups and downs in the real estate world – as seems to be the norm recently. As usual, the conflicting information is adding to the confusion in the market place, at least for those of us not so far up the food chain we are guaranteed a tax payer paid bonus. The mess in the British economy continues to take it’s toll amongst the politicians. Years of systematic abuse by Members of Parliament is coming to boil and the latest head to roll (metaphorically) is David Curry – the politician ostensibly in charge of policing the expenses of MPs. I know I keep bleating on about the behavior of politicians and bankers – but I genuinely feel that until we chop the criminal element from these institutions and get some accountability – we cannot have a recovery.
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