Green shoots of recovery in the UK
17 March 2009, 11:09 PM
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Green shoots of recovery in the UK
Well it is a sign!
I have stayed in London in hotels over the past three years. There is a group of around 20 business hotels I use and each week I check who has the best rate and book one of them.
Over the past three years - as soon as the summer holidays finish rates jump and average £200 per night. That is over the past three years.
Within a month of Lehman collapsing this basket of hotels was averaging 90-140 for the same rooms. A huge drop.
Within the last month prices have risen again - not to prerecession levels but up to around £150-180.
At the same time house buying activity has increased.
At the same time the market in used exotic cars has also firmed up. I have just bought my 911 in time as the average price of used GT3s has risen £1000 in the past two weeks alone.
So at least three signs of increased economic activity.
Oh, and in terms of bank lending - I needed a short term loan of £15k to cover my car purchase and it took a two minute call to my bank at 8pm last night and when I woke up this morning it was in my current account. No shortage of lending there then
I have stayed in London in hotels over the past three years. There is a group of around 20 business hotels I use and each week I check who has the best rate and book one of them.
Over the past three years - as soon as the summer holidays finish rates jump and average £200 per night. That is over the past three years.
Within a month of Lehman collapsing this basket of hotels was averaging 90-140 for the same rooms. A huge drop.
Within the last month prices have risen again - not to prerecession levels but up to around £150-180.
At the same time house buying activity has increased.
At the same time the market in used exotic cars has also firmed up. I have just bought my 911 in time as the average price of used GT3s has risen £1000 in the past two weeks alone.
So at least three signs of increased economic activity.
Oh, and in terms of bank lending - I needed a short term loan of £15k to cover my car purchase and it took a two minute call to my bank at 8pm last night and when I woke up this morning it was in my current account. No shortage of lending there then
18 March 2009, 12:45 PM
#2
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I have to admit, I noticed the GT3 prices jumping up suddenly as well. Just as I was starting to justify to the wife the merits of buying one so cheaply. Bugger.
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