IT: Good value tempts buyers off the fence

Apparently dropping prices encouraged buyers, quite surprising that.

Which makes this part all the more incomprehensible…

Link

Think of it as economic Darwinism. Those said “developers” who are willing to watch capital destoyed over time aren’'t going too far. Of course we always see the argument “well, they have loads of money and can afford to wait”. Sure. All that means is that in 10 years they may if they are lucky still have the same net worth as they have today. The “fitter” species of developer will be extract themselves from this chaos, limit their further losses and redeploy their capital somewhere else productive. They will still manage to double their net worth over the next ten years.

:unamused:

They were spot on as it turns out, having sold the business to Savills right at the top of the market. :wink: