London burning

Obviously, in the short-term, nothing’s more important than restoring calm and order in London (and now elsewhere). But eventually the consequences off the past couple nights will begin to make themselves felt. Instructive indeed to see how easily reputations can be tarnished, and yes we are thinking making the connection to America’s internal strife, limited so far to its political elite in Washington. Its rating fell despite the debt deal being passed. Can the premium for London property assets be immune? The long-term answer to that question probably depends on how short-term the current troubles turn out to be.

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