The 1%, they’re the super-rich with £21m or more of assets (not including their main residence) who - according to Professor Danny Dorling - don’t just hold the keys to Knightsbridge, but the keys to the capital’s economic future. Cash-rich, but with little long term interest in London, they keep property prices above and beyond levels that the average earner can achieve with a conventional mortgage. The results… a dysfunctional, unsustainable capital economy, and eventual collapse. The Independent interview doesn’t do a great job of explaining the relationship between London’s super-prime and starter homes, but it’s an interesting read.
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