… And the easiest way to confirm it, is to look at recent (and not so recent) home listings in Kensington and Chelsea, where we find something stunning: out of 130 pages of adverts, with 15 ads per page, nearly half of all properties, or 53 of the pages show price reductions.
On a trip to New York City, London’s Muslim Mayor Sadiq Khan has said terror attacks are “part and parcel” of urban life, just hours after an Islamic terrorist bombed the city.
Mr. Khan also seized the opportunity to launch an explicit attack on the Brexit vote and rise of Republican presidential candidate Donald Trump. He compared to two movements, claiming they are both driven by “scapegoating”.
“All these problems will not be solved by voting to leave the EU or voting for – I don’t want to name the candidate – a president of the USA,” he said. Continue reading »
Air China is taking some heat today after posting some unusual “safety” tips for their travelers looking to visit London. The controversial advice was posted in Air China’s in-flight magazine, Wings of China, and read as follows:
“London is generally a safe place to travel, however precautions are needed when entering areas mainly populated by Indians, Pakistanis and black people. We advise tourists not to go out alone at night, and females always to be accompanied by another person when traveling.” Continue reading »
The office of the Mayor of London, Sadiq Khan, has issued a grant for the new Thought Police – an online ‘hub’ designed to identify so-called ‘hate speakers’ for police. What’s more, he is spending millions of pounds of British taxpayer money to essentially eliminate the concept of free speech.
H/t reader kevin a.
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H/t reader I.G.
Sadiq Khan, the Mayor of London, said:
“I believe that Britain is better off within the European Union, but the British people have clearly spoken today, and their democratic will must now be fulfilled.
“I would like to praise David Cameron for the dignified way he has reacted to the message sent by the British people in his words at Downing Street today. I agree with the Prime Minister that Britain can survive and prosper outside the European Union. Continue reading »
If you’re the type of person that sees a model in an advertisement and immediately gets depressed that you’ve skipped the last 6 months in the gym since signing up for that New Year’s day membership special – or if you just can’t stand to see a sexy woman in a bikini for that matter – newly elected mayor of London Sadiq Khan has a remedy.
Khan has announced that Transport for London (greater London transportation system) will no longer run ads which could cause “body confidence issues”, particularly among young people the Evening Standard reports. That means London can say goodbye to seeing sexy women in bikinis that are featured in advertisements such as Protein World’s “Are You Beach Body Ready.”
“As a father of two teenage girls, I am extremely concerned about this kind of advertising which can demean people, particularly women, and make them ashamed of their bodies. It is high time it came to an end. Nobody should feel pressurised, while they travel on the Tube or bus, into unrealistic expectations surrounding their bodies and I want to send a clear message to the advertising industry about this.” Khan said. Continue reading »
Another major city is experiencing a pullback in demand for its property – once again as a direct result of Government action to dampen the impact of foreign investment. In London, as Bloomberg reports, demand has slumped so badly that developers are offering discounts of up to 20% for their newly constructed homes. And just as the case was in Manhattan, it’s a result of the UK putting in a speed bump. The UK recently increased taxes on those deemed to be purchasing a second home, specifically designed to slow the pace of overseas investment.
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A SOMALI national living in London has told his MP he “massively regrets” bringing his children over from war-torn Somalia, saying the streets of the capital are “too dangerous.”
One of the most spectacular bubbles inflated as a direct result of the oligarch giveaway colloquially known as “central bank policy” in the years since the global economic meltdown, has been the London real estate market. There are many reasons for this, but the primary one is the fact that London was seen as one of the best places for shady billionaires to park illicit funds, i.e., money laundering.
With a cratering in emerging market economies, as well as tax changes in the UK, much of that trade is now over. As such, some players are now scrambling to get out before the bottom drops.
If the following article is even remotely accurate, London real estate investors need to pay close attention.
From the Evening Standard:
As many as 60,000 homes bought off-plan in new developments in areas such as Nine Elms are scheduled for completion by the end of 2017 and many will be put up for sale immediately because of the growing disillusion with London, it says. Continue reading »
H/t reader squodgy:
“I know this is true in Boris Johnson’s pro capitalist two society London.
The City is still a shithole, more than 50% are immigrants, mainly tax dodgers or gangsters of some degree. But anyone fighting for Social fairness or Justice is just not wanted.”
United Kingdom — A law-abiding, political protester has been threatened with deportation from the U.K. after he was arrested during a peaceful demonstration. Hungarian-born Daniel Gardonyi has lived in the U.K. for several years and tirelessly dedicated his time to protesting against the social cleansing and gentrification taking place across London.
Gardonyi’s peaceful resistance against entire communities being forced out of the capital due to affordable social housing being replaced with expensive private homes, has seen him participate in numerous high-profile protests. Continue reading »
H/t reader squodgy:
“It’s all been true, there is a recovery, the horizon is blue & all is well.”
Insolvency Index: capital and Wales enjoy largest decreases as key sectors show recovery
London and Wales showed large falls in company failures as insolvencies across the UK dropped year on year for the third quarter in a row.
The Exaro Insolvency Index reveals that London enjoyed the largest fall, as the number of companies that filed one or more insolvency notices dropped in the three months to September by 22.2 per cent compared to the same period in 2014, decreasing from 1,742 to 1,355. Continue reading »
Two months ago I published a piece titled, Luxury London Home Sales Plunge 26% – Has this Mega Real Estate Bubble Finally Burst?. I wrote:
It appears the music may have finally stopped for one of the world’s largest luxury real estate bubbles: London.
It’s well known that foreign oligarchs love London real estate as a means to launder funds, typically “earned” by soaking their host countries dry via corruption and fraud. This has caused absurd and irrational spikes in high-end residential real estate in the English capital, as well as a flood of new construction.
With emerging markets now completely collapsing, the seemingly endless flood of foreign money is drying up, and with it, London real estate.
So has the London real estate bubble popped? Probably.
For the London media 7/7 is ‘done and dusted’, but for guest author, Tony Gosling, who helped cover the IRA London bombing campaign for the BBC, nothing could be further from the truth.
31-minute video:Ten years after 7/7: 13 holes in government & media account of 2005 London Bombings:
Monday 6th July 2015 BRISTOL – At lunchtime of 7th July 2005 the Guardian’s Mark Honigsbaum was in the London Hilton Hotel opposite Edgware Road underground station uploading an audio report to the Guardian website. Mark had been talking to dazed and injured passengers as they emerged from the smoke and chaos below and listening back to the Guardian’s first report of the day is unsettling. Continue reading »
– ‘Daylight robbery!’ Uber screws Londoners with 300% Tube-strike price hike (VIDEO) (RT, July 9, 2015):
Taxi firm Uber has been accused of ‘robbery’ after the company tripled its prices to cash in on the traffic chaos caused by the biggest London Underground strike in 13 years.
Uber users tweeted their anger at the online taxi company, expressing outrage as taxi fares rose by up to 300 percent at a time when thousands of Londoners were struggling to get to work.
“Demand is off the charts! Fares have increased to get more Ubers on the road,” the app stated.
– House prices plummeting in London’s most expensive boroughs, but going up in the suburbs (Independent, June 12, 2015)
– ‘If I’m London mayor, Max Keiser will be economic advisor’ – George Galloway (RT, June 5, 2015):
London mayoral candidate George Galloway says he would appoint radical financial commentator and RT presenter Max Keiser to be his economic advisor if he is elected to City Hall in next year’s election.
Galloway revealed the planned appointment on Twitter, adding that “Mr Banker” should take note.
Galloway, the former Respect party MP for Bradford West, will take part in the May 5, 2016, mayoral election where incumbent Boris Johnson will not be standing, as he was elected an MP for Uxbridge and South Ruislip in the UK general election. Two-time Mayor Johnson is widely expected to receive a portfolio in the Conservative Cabinet after he steps down as mayor.
Keiser, an American citizen who lives in London, said he and Galloway had been discussing the possibility for “several years,” claiming he could bring “unparalleled experience and expertise to this job.” Continue reading »
– London Housing Bubble Watch: $630/Month For A Bed “In” A Shared Kitchen! (ZeroHedge, May 13, 2015):
You know it’s a bubble when… A listing has appeared online advertising a single bed in a house in London where the mattress is located in the kitchen.…
– Over 50,000 families shipped out of London in the past three years due to welfare cuts and soaring rents (Independent, April 29, 2015):
Exclusive: Councils are currently moving homeless mothers and children out of their boroughs at a rate of close to 500 families a week
http://www.youtube.com/watch?v=J44Nv1… On the 7th of July 2005 London was hit by a series of explosions. You probably think you know what happened that day. But you don’t. The police have, from the onset of their investigation, chosen to withhold from the public almost every bit of evidence they claim to have and have provably lied about several aspects of the London Bombings. The mainstream news has willfully spread false, unsubstantiated and unverifiable information, while choosing to completely ignore the numerous inconsistencies and discrepancies in the official story. The government has finally, after a year, presented us with their official ‘narrative’ concerning the event.
Within hours it was shown to contain numerous errors, a fact since admitted by the Home Secretary John Reid. They have continuously rejected calls for a full, independent public inquiry. Tony Blair himself described such an inquiry as a ‘ludicrous diversion’. What don’t they want us to find out? Continue reading »
– Mr. Varoufakis Arrives In London (ZeroHedge, Feb 2, 2015):
The new Greek PM has a thing against ties; The new Greek finmin, on the other hand, has a thing for boots and barbour jackets as seen in this series of photos of him arriving from Paris (where he secured French support for the Greek debt “renegotiation“) for a meeting with UK chancellor George Osborne.
Spot the suit:
– London Mayor’s Stunning Proposal: “Terrorist Until Proven Innocent” (ZeroHedge, Aug 25, 2014):
With all of England on edge because the ISIS executioner of James Foley, known as “Jihadi John” sported a British accent, and who may or may not have been identified as Abdel-Majed Bary, although UK government sources have not yet officially revealed his identity, one person has decided it is time to not waste yet another crisis. The person: London mayor Boris Johnson who as the Guardian reports, has called for the presumption of innocence to be reversed in cases where Britons travel to Iraq or Syria and said he wants the jihadist who beheaded an American journalist to be killed in a bomb attack. If Johnson’s proposal for a “swift and minor” law change passes, any Brit traveling to Iraq or Syria will automatically be branded a terrorist and suffer the appropriate consequences.
More on this stunning attempt to overhaul the most basic right of law: Continue reading »