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.
Gabriella Corley is a 9 year old with Type I diabetes who’s allergic to the insulin covered by her low-income parents’ healthcare; to live, she must take Sanofi’s proprietary Apidra brand insulin, which has increased in price by 1,123% since 1996, and which is only covered to 25% by her insurer’s Pharmacy Benefit Manager, CVS.
Since the earliest days of ecommerce, analysts have predicted that retailers would use their estimations of their customers’ willingness to pay to invisibly, instantaneously reprice their goods, offering different prices to each customer.
The Intercept publishes a previously-unseen set of Snowden docs detailing more than $500,000,000 worth of secret payments by the Japanese government to the NSA, in exchange for access to the NSA’s specialized surveillance capabilities, in likely contravention of Japanese privacy law (the secrecy of the program means that the legality was never debated, so no […]
Bamboo has lots of uses beyond just being panda food. Things like bikes, roads, scaffolding, and musical instruments are made from the fast-growing grass. But unless you are participating in a tropical-themed LARP, you probably wouldn’t want a shirt made from bamboo stalks. So why do bamboo bed sheets make any sense? Because yarn extracted from […]
If you want to work in tech, but don’t have any desire to code web apps to help businesses sell things to other business, you might want to consider a career in cybersecurity. Judging from the apparent complete infiltration of Russian hackers in American cyberspace, it seems fair to speculate that there’s a major shortage of […]
All moms are different. But all moms like getting flowers on Mother’s Day, and that’s a fact (not, however a fact we can document in any fashion.) Instead of getting chewed out for forgetting to call her on the second Sunday of May, you can take care of it ahead of time with Teleflora’s flower […]