BOOMED! Post-Brexit economic good news starting to take off.

[scooterscot]

London generates 25% of British GDP. Without London, the UK becomeslike a larger Portugal.
HTH BIKIW.

Warm, sunny, lovely beaches complete with a decent football team?

[NotAllThere]

Warm, sunny, lovely beaches complete with a decent football team?

A larger, colder, wetter, crapper Portugal?

[Old Greg]

What happens to the economic model when we've sold our homes to the oversea buyers and there's no where for the locals to stay?

From talking to Irish pimps this last week about the number of applicants from the UK, I'd say that there won't be as many locals left soon.

[DaveB]

A larger, colder, wetter, crapper Portugal?

You mean Wales?

[CretinWatcher]

ftfy

London's taxes prop up the rest of the UK: One pound in every five earned in the capital funds the rest of the country | This is Money

[Old Greg]

Obviously you're insinuating it's not really good news; but if the pound stays low won't the same happen with all kinds of other UK exports?

It's great news for overseas buyers, so let's be glass half full.

A weak pound should be really good news for our financial services export industry, especially once we have agreed access to the single market which only needs every EU (or is it EEA - does anyone know) member to agree.

[GB9]

I'm sure there was someone posting on here yesterday that overseas buyers wouldn't be buying and linking to the Singapore Bank story to justify their position.

[BlasterBates]

and there's more to come

Goldman, Deutsche Bank Say Pound Plunge Is Just Getting Started - Bloomberg

If this continues the UK which is currently the (as of July) 6th largest economy will be the 7the largest economy and in danger of slipping out of the G7.

[sirja]

I'm sure there was someone posting on here yesterday that overseas buyers wouldn't be buying and linking to the Singapore Bank story to justify their position.

Yep that was me. Of course you'll get some buyers taking advantage of the lower pound, but there's quite a lot of factors to take into account. I maintain that until all the uncertainty about the UK status Re the single market is resolved, we are not going to see a flood of buyers into London real estate market.

[DaveB]

I'm sure there was someone posting on here yesterday that overseas buyers wouldn't be buying and linking to the Singapore Bank story to justify their position.

I suspect that was more about banks not wanting exposure through lending against the property market.

Cash buyers will get a lot more for their money at the moment.