Here's an Oobject gallery of "Depressing million-dollar London property" -- houses and flats for sale at or above the million dollar (£650K) range. It's true that London's residential property hasn't fallen as precipitously as the US equivalent, but commercial property is sure down a big notch; today I'm signing the lease on a new office in the same building as the London Hackspace, next to a train station and a public bicycle lockup, with a loading bay, lift, balcony, sink, etc, that's twice the size of my old office in a shitty Clerkenwell building -- and paying the same as I've been paying to date for all those extras (added bonus: it's only 10 minutes' walk from the (grotesquely overvalued) flat!).
Shown here: "Near the Arsenal football club, this utilitarian looking squat box was originally designed for blue collar workers, now it probably contains a lawyer."
Its October 2010 and Chinese property booms while most of the Western world's houses have shrunk to more realistic levels. In the US, homes have ceased to be ATMs to buy oriental barbecues, but in Britain, a crowded island with a cultural attachment to carving out a personal defensible space Englishmen's homes are still castles, with prices to match.
depressing million dollar london property
As US housing prices adjusted, UK ones, faltered then regained their losses smack in the middle of the recession. This time things look different, with last month seeing the largest dip in housing prices in history. Perhaps prices in Britain will go up forever, or perhaps Britain will be like Japan, another crowded island which had the same phenomenon and where eventual capitulation resulted in a crash where property is worth less than a decade ago?
One way to judge judge this is to look at what a million dollars gets you in London and its hinterland - a place where an apartment recently sold for a quarter of a billion dollars during the biggest downturn since the Great Depression. Click through each item to read the justification for inclusion.
2001 Nobel laureate in economics Joseph Stiglitz has a long history of being on the right side of history. For example: pricing the Iraq war at $3T; raising the alarm about sovereign wealth funds acquiring US debt; nailing the double-standard on bailouts for debt crises (and the way that this destabilizes poor countries); sounding the […]
In this 30 minute video, Harry Brignull rounds up his work on cataloging and unpicking “Dark Patterns,” (previously) the super-optimized techniques used by online services to lure their customers into taking actions they would not make otherwise and will later regret.
What to do if you’ve just signed up to work in one of the most expensive real-estate markets in the world, with almost all of your net worth tied up in illiquid shares in your employer’s company? Just ask a Silicon Valley bank for a 100% mortgage, which they’ll cheerfully supply on 24 hours’ notice, […]
Looks like all of your potential employers are hiring candidates with programming skills (which you don’t have). With all of the languages out there today, it’s tough to know where to start.With the Complete Front-End to Back-End Coding Bundle, you can beef your resume up in all the right places, no confusion necessary. This package of […]
Those of us who love music wish we could listen to it 24/7. But it’s impossible when we’re trying to converse with our friends, or when are swimming in the local pool.That is, until now. The KOAR Bone Conduction Bluetooth Headset, now 48% off, has changed the audio game.Made with lightweight titanium memory metal, this headset boasts patented bone conduction technology to transport sound […]
It’s one thing to enjoy dinner at home and a nice glass of Cabernet Sauvignon with your best friend, Netflix, but it’s another thing entirely to make that meal from scratch and get that wine delivered right to your doorstep.But what if we told you there’s a way to make this possible? To keep your social life, […]