Many places in both the US / UK are overvalued relative to their economical value. Some developer in Glasgow tried selling us a parking lot - we did the math a

Many places in both the US / UK are overvalued relative to their economical value. Some developer in Glasgow tried selling us a parking lot - we did the math and there was no way it would generate enough income to collect on its price. We were better off directing our investment where the math worked (emerging markets, etc). The parking lot had a higher price then an entire chemical plant in Kenya that had a monopoly on supplying life saving generic drugs to 3 countries in Eastern Africa. A lot of valuation in the US / UK is based on the dollar having reverse currency status, so don't get on your high horse about the US being more 'productive'. It didn't stop the glasgow parking lot gaining it value afterwards, but as the saying goes - "The market can stay irrational longer than you can stay solvent".