{"id":5479,"date":"2016-05-29T07:59:43","date_gmt":"2016-05-29T07:59:43","guid":{"rendered":"http:\/\/www.dannydorling.org\/?p=5479"},"modified":"2022-09-21T22:19:56","modified_gmt":"2022-09-21T22:19:56","slug":"london-in-the-age-of-big-finance-why-do-property-investors-leave-their-purchases-empty","status":"publish","type":"post","link":"https:\/\/www.dannydorling.org\/?p=5479","title":{"rendered":"London in the age of big finance &#8211; why do property investors leave their purchases empty?"},"content":{"rendered":"<p>I want to ask you to play a little game with me. I want you to pretend you are being driven to Dalston Junction in London to look at one of the penthouse flats on the twelfth floor of a new development to decide if you are going to buy it<!--more--> for \u00a32.5 or \u00a32.4 million. You have an inheritance of \u00a320 million pounds. You buy it, but decide to leave to leave it empty \u2013 so \u2013 why would you leave it empty?<\/p>\n<p>Why not get a letting agency to fill it with tenants? After a year you could evict them with just two months notice. Why not make a little ready money as well as enjoying seeing your capital appreciate? You don\u2019t pass over any other opportunities to make money. So, why do you \u2013 and so many people like you &#8211; leave the flats in London that your purchase empty?<\/p>\n<p>For one possible explanation listen on:<\/p>\n<p><iframe loading=\"lazy\" style=\"background-color: transparent; display: block; max-width: 700px;\" title=\"audioBoom player\" src=\"\/\/embeds.audioboom.com\/boos\/4627525-london-in-the-age-of-big-finance\/embed\/v4?eid=AQAAABWeSldFnEYA\" width=\"100%\" height=\"300\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<div id=\"attachment_5342\" style=\"width: 615px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-5342\" class=\"size-large wp-image-5342\" src=\"http:\/\/www.dannydorling.org\/wp-content\/files\/JosephPKelly-753x1024.jpg\" alt=\"Illustration by Joseph P Kelly\" width=\"605\" height=\"823\" srcset=\"https:\/\/www.dannydorling.org\/wp-content\/files\/JosephPKelly-753x1024.jpg 753w, https:\/\/www.dannydorling.org\/wp-content\/files\/JosephPKelly-221x300.jpg 221w, https:\/\/www.dannydorling.org\/wp-content\/files\/JosephPKelly-768x1045.jpg 768w, https:\/\/www.dannydorling.org\/wp-content\/files\/JosephPKelly.jpg 1024w\" sizes=\"auto, (max-width: 605px) 100vw, 605px\" \/><p id=\"caption-attachment-5342\" class=\"wp-caption-text\">Illustration by Joseph P Kelly<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>I want to ask you to play a little game with me. I want you to pretend you are being driven to Dalston Junction in London to look at one of the penthouse flats on the twelfth floor of a new development to decide if you are going to buy it<\/p>\n","protected":false},"author":1,"featured_media":9164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-5479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/posts\/5479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5479"}],"version-history":[{"count":3,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/posts\/5479\/revisions"}],"predecessor-version":[{"id":9313,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/posts\/5479\/revisions\/9313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=\/wp\/v2\/media\/9164"}],"wp:attachment":[{"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dannydorling.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}