London Bubble Trouble - Visas Issued To Wealthy Foreigners Plunge 84%
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
It appears the music may have finally stopped for one of the world’s largest luxury real estate bubbles: London.
It’s well known that foreign oligarchs love London real estate as a means to launder funds, typically “earned” by soaking their host countries dry via corruption and fraud. This has caused absurd and irrational spikes in high-end residential real estate in the English capital, as well as a flood of new construction.