not usually at the $50m end of the market; it's axiomatic in London that Kensington and Knightsbridge were the only postcodes to come through the last property slump without a blip. Houses at this end are not typically bought with mortgages ....
-----Original Message----- From: Michael Perelman [mailto:[EMAIL PROTECTED]] Sent: 20 September 2002 22:53 To: [EMAIL PROTECTED] Subject: [PEN-L:30421] mansion glut The Wall Street Journal today has a story about the glut of manisions ($50 mill. and more). Where would a housing bubble first start to deflate? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED] ___________________________________________________ Email Disclaimer This communication may contain confidential or privileged information and is for the attention of the named recipient only. It should not be passed on to any other person. Information relating to any company or security, is for information purposes only and should not be interpreted as a solicitation or offer to buy or sell any security. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. All e-mail messages, and associated attachments, are subject to interception and monitoring for lawful business purposes. (c) 2002 Cazenove Service Company or affiliates. Cazenove & Co. Ltd and Cazenove Fund Management Limited provide independent advice and are regulated by the Financial Services Authority and members of the London Stock Exchange. Cazenove Fund Management Jersey is a branch of Cazenove Fund Management Limited and is regulated by the Jersey Financial Services Commission. Cazenove Investment Fund Management Limited, regulated by the Financial Services Authority and a member of IMA, promotes only its own products and services. ___________________________________________________
