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Almost half of the worlds wealth is in real estate, which is hard to store offshore or in a bank. British banks probably store less than $5 trillion or less th
by naveen99 3y ago
Almost half of the worlds wealth is in real estate, which is hard to store offshore or in a bank. British banks probably store less than $5 trillion or less than 1% of global wealth.
- MichaelZuo 3y agoIt's possible that a large fraction of outstanding mortgages are owned by intermediaries that ultimately reside in such an arrangement. But half does seem like an exaggeration. 1/10 would be more believable.
- naveen99 3y agoLeverage in residential real estate is minimal. Probably less than 30% globally.