Canary-On-Thames: Soaring Property Prices And Falling Rents Reflect Cheap Global Credit, Not Scarce Local Real Estate

Needless to say, falling rents are not a sign of scarcity---even in the toniest sanctuaries of one of the planet's hottest urban centers. Nor are they an endorsement for the real estate brokers' pitch that central London is different---an irreplaceable treasure of civilization that is immune to the normal laws of economics.....
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