House prices correlate closely with total mortgage lending. Duh. Everything is worth what the purchaser will pay for it, and when the purchaser routinely borrows to pay for it, everything is worth what the purchaser can borrow. If house prices were driving by Chinese capitalists and Saudi oil sheikhs then domestic lending would be irrelevant to the big picture and clearly it isn't
The only ideologue is you! I gave you another source from hardcore capitalists talking explicitly about the effect of wealthy foreigners on London's real estate market. You come back with idiotic arguments:
First, nobody said that wealthy foreigners was the only reason for high market prices. Their presence simply explains why London is the most expensive market in the world. And yes, as the study shows, this can be explained by the fact that London is the most attractive destination for all these wealthy foreigners
Second, your graph is about the whole UK. The effect we are talking about is in London. So, your graph is totally irrelevant
Third, the explanation about tough regulations and loans to explain high prices fails in the light of all the available evidence:
For start , according to your saying in the previous thread, there was not a collapse of housing prices in London, and you tried to explain it as a result of government regulations. So, if I am not mistaken you basically claimed that lending WAS irrelevant to the big picture in London. Are you going to change once more your theories? If you are willing to do so, perhaps you should consider the possibility that lending was irrelevant not because of the government regulations (after all the UK government is one of the most subservient ones to the modern bank practices) but because of the presence of wealthy investors. In other words, the average people could not get a loan or build a house he could not afford thanks to competition by wealthy foreigners. I gave you a similar case in San Francisco with house prices going through the roof and with people unable to get a house without paying in cash!!!. Moreover, considering that according to the study, HALF of the apartment purchases went to foreign investors, it is idiotic to argue that the driving factor in London is the loan given to the average Londoner to buy a house.
Nor does it make sense to explain the price level based on decades old government regulations which make it difficult to build a house. Have you realized that London has become more expensive than places like Manhattan? How many new buildings were built in Manhattan during the last 20 years? Obviously, it is almost impossible to build in Manhattan, not because of regulations but because of its geography and lack of space in the island. And still, your city has become less affordable for its people regarding housing than fucking Manhattan! But I guess, this must have been expected as long as there are gullible people like you ready to bend over to what the big finance dictates.
Your fanatical resistance to accept the real information and theory I provide to you from credible sites regarding the effects of wealthy investors on the housing market of London is telling about who the ideologue is. You have the nerve to claim that I formed an opinion before examining the facts when it is obvious that you are reluctant to change the opinion you have formed about London's housing even AFTER you were provided the relevant facts as they are given by professionals in the field of the London real estate market. You started the conversation with a very strong rejection of the effect of foreign investors on house prices (in your words, it was "BS!") and you continue to believe the same thing...