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A comment on Lumber crash leads to 'blowout' sales as prices crater. Parent comment

Re:Lumber crash leads to 'blowout' sales as prices crater by thrwyoilarticle on Thursday September 16, 2021 @07:44AM (#28550470)
Being valued at £2M doesn't mean you could sell all of them for that price or that the people living in them paid £2M for them.

The sort of person who could afford a nice house 3+ decades ago and spent the intervening years living in London isn't likely to move to somewhere more rural just because they can realise an investment.

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Re:Lumber crash leads to 'blowout' sales as prices crater by RobertKerans on Thursday September 16, 2021 @08:11AM (#28550709)
> Being valued at £2M doesn't mean you could sell all of them for that price or that the people living in them paid £2M for them

But in London these houses do sell, normally very quickly (and bullshit apartments in shiny new blocks that are in same price bracket I guess same, generally they do seem to sell, but I assume that's just parking money for tax purposes so not quite same thing).

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Re:Lumber crash leads to 'blowout' sales as prices crater by thrwyoilarticle on Thursday September 16, 2021 @09:04AM (#28551194)
That's exactly my point. The demand is far higher than the supply.
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Re:Lumber crash leads to 'blowout' sales as prices crater by RobertKerans on Thursday September 16, 2021 @03:47PM (#28556513)
Ah, sorry, I misread that. GP has fair points though, whole situation in the UK is crazy, infects everything, it's an arms race
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