4 ms·
A better way to look at it is how much is immigration of wealthy people propping up the UK economy? If you look at the number of new £1m+ apartments in London (
by fy20 4y ago
A better way to look at it is how much is immigration of wealthy people propping up the UK economy? If you look at the number of new £1m+ apartments in London (which even if you are a couple of well paid engineers you probably could not get a mortgage for), then it paints a pretty stark picture.
- rcarr 4y agoMy understanding is that these apartments aren’t generally purchased by immigrants but by non-resident investors who just want a safe asset to park money in and take advantage of the ridiculous never ending house price inflation. They know that the government will never take any steps to correct the market because the severity of the after effects would make it electoral suicide. So London is just filled with tons of empty apartments and houses.