Comments by "irresistablejewel" (@irresistablejewel) on "TradingCoachUK" channel.

@johnkean6852 If it's over £30,000 a week running costs (like that London apartment) I'd have to turn it down. These big properties require a lot of upkeep; that's a lot of marble to keep polished and it looks more like a museum to me. The London property market is currently being used to "park" money; the houses in Kensington Park Gardens (aka millionaires row) are certainly impressive; but it's all that other property being left to rot that makes me view this documentary more like a horror story.
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@johnkean6852 Again I would have to disagree with you as I'm Scottish (and we like to disagree with people) but mainly because I view a house as a place to live, not as a "buy to rent" or as the type of money laundering investment the very wealthy use. It's got far worse in London than this documentary shows (at least these people renovate "tired" properties); property developers are trying to "gentrify" areas, which involves moving local residents out and then building properties they can't hope to afford; grand buildings often get broken up into bedsits, with a shared toilet; we even see foreign investors buy the small squares of grass in the likes of Grosvenor square, when nothing can be built there. Part of the reason is that there is too much money sloshing about in the world and there poor millionaires are trying desperately to legitimise it. A pound (£) last year isn't even worth a pound (£) this year as the government keeps printing money; it's real shame that they don't understand that the money supply is going rotten, while they try to inflate away debt. Those with savings and pensions are seeing the worth destroyed; foreign (£) debt holders are printing money too (to keep from losing most of their "investment") while the stock market (like in 1928 is booming)?! Yes it's a mess and both the private and social housing sectors are in chaos. It is pushing up house prices (as you say); good if you own a house in London; bad if you want to buy in your own neighbourhood. I've met Chinese kitchen worker who come to the UK; work 16 hour days; sleep in a hot bed (one gets out; one gets in) and they do that to: learn a bit of English; get London wages, then they go back to China and buy a house. I'm not against millionaires; or restoring pre-WW2 properties; but I think the whole UK economy is fake and these vast differences in wealth cause a lot of friction. I used to work in Park Lane (near that building), in a casino and even in the late 1980's I'd have to think twice before buying a coffee. I wouldn't let foreign investors stockpile empty property (a land tax would sort that out); but that won't happen under a Tory government. I suppose what I say depends on how one views a house; if you view it like "Monopoly" (registered trademark) be prepared to get moved so someone can build a hotel.
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@johnkean6852 I've always thought of capitalism as a dandy way to try and establish a price point, somewhere between supply and demand; but when someone turns up with a big bag of money (for example, Russian oligarchs that were basically allowed to walk off with IMF bailout money) it messes up the domestic economy. The UK government don't seem to share my view; they seem more than happy to award citizenship and the number of an estate agent. Both political parties seem fascinated by money; I used to find this comical until they started selling revenue streams for lump sums; with the excuse everyone can own a bit of the gas board. Actually we owned the Gas board, not everyone got shares and many sold them for a quick profit; so now banks and hedge funds run the utilities. They even sold the main blood plasma supplier to the NHS to ... Mitt Romney?! I'm not sure if that was blatant corruption or a lot of seemingly reasonable steps that led to something ugly, but I see these vast differences in wealth leading to war. I hope I'm wrong, but it seems to be the same script that led from the crash of 1929 to WW2. I'm not trying to pick on this Arab billionaire, who bought a fairly nondescript building on Park Lane (if he knocked the building down I'd have trouble remembering what it was); there used to be a lot of Arab money in London in the late 80's until the Gulf war and the bank down the street (BCCI) went bust then it left ... Sheikhs saying here's £100,000 give me it back on Monday, to surprised Londoners (really!). I left a casino dance in London, me in a tux; a young lady in a ballgown; we were walking to Waterloo (to get a cab); along Victoria embankment with it's beautiful houses and hotels; across Waterloo Bridge and then under the large roundabout in front of the station ... right into "cardboard city". What a shock! So we took our shoes off and tiptoed through ... if capitalism is really working we shouldn't have this; like in 1929 it's only really working for a few. By the way; if you draw a couple of lines from London to Germany; it's better not to buy a house in that wedge shape area in the UK, because it's called "bomb alley"; damage from jettisoned German bombs is still a problem ... like in London; so don't dig to deep. That's capitalism too, but it does have it's uses in the right place. I'm not very confident about the future of the UK economy; the government would follow a fiver (£5) off a cliff .. and they keep telling us "I'm all right jack!" (a good movie, about this sort of thing; imo) ... a comedy about class war; maybe too British for you!?).
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