London luxury housing market bubble bursts: 39% of sales last quarter were to deep discount wholesalers making bulk buys

Boing Boing -

Boing Boing—London's property market continues its implosion, brought on by a combination of tightening capital controls (much of the market exists to help offshore criminals launder their money), Brexit, and a long-overdue correction to a wildly inflated market. (more…)

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