Property News · May 10, 2017

Many of Britain's richest people are property moguls | Alice Martin


A dysfunctional British housing market, propped up by housing benefit and public investment, is making a few people very, very rich. It is a strange kind of economy where land and property routinely earn more than people do. But that is what we have – and the amount of wealth tied up in these areas has increased dramatically over the past few decades. Today the value of property in the UK stands at over £5tn – nearly 60% of the UK’s entire net wealth – up from just a little over £1tn in 1995.Those who own land and property have benefited directly from public investment in infrastructure and services: so we are all paying into the gigantic fortunes of Britain’s wealthiest property moguls. Continue reading…

Source : theguardian.com
Read more…Many of Britain’s richest people are property moguls | Alice Martin

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