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The other week I was visiting family outside of Frankfurt. They're in a sleepy commuter suburb which hasn't seen any new construction in decades. This visit,
by joezydeco 7y ago
The other week I was visiting family outside of Frankfurt. They're in a sleepy commuter suburb which hasn't seen any new construction in decades.
This visit, I could count multiple large apartment/condo buildings being erected around town. The locals told me that downtown Frankfurt is getting too expensive to live so people are moving outward.
We knew the financial types were already fleeing London for France and Germany. This seems to confirm that it's accelerating.
- growlist 7y ago> We knew the financial types were already fleeing London for France and Germany. This seems to confirm that it's accelerating. Unless you can prove otherwise this simply isn't the case, a quick Google yielding the following news headlines: 'Germany angry Brexit ‘exodus did not happen’ – study shows London continues to lead' 'Bankers Don’t Flee London, Despite Exodus Predictions Mass departures from U.K.’s financial center so far haven’t happened' 'The Brexit exodus that never was Frankfurt – not as appealing as it first appeared Doom-mongers predicted a massive flight from the City. But it simply didn’t happen.'
- AlbertoGP 7y agoI don’t think that’s because of any exodus from Britain: I’ve seen such developments happening in various regions in Germany (where I live) and also renovation of houses that had not been touched in the decade prior. I can’t tell whether it’s the main factor, but a big contributor at least is the lack of returns on other investments. There are big amounts of savings in Germany, and they have been diverted more and more towards real state in the last, say, five years.