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In 2008 the financial crisis was caused by the sub-prime property crash in the US. Today London is facing a super-prime crisis. [...]
the market in London and parts of the south-east does not respond to local demand, because it is fuelled by the demands of global capital flooding into London, much of it from highly dubious sources, as the Panama Papers reveal. If London has been shown to be a hub of global money laundering, the property market is its driving force.
— theguardian.com
More on London's housing crisis:A tall order? Wooden skyscraper could become Britain's second tallest buildingStock bricks to Brutalism: housing design in PoplarLondon's housing crisis is creating a chasm between the rich and poorBank of England proposes new limits for "buy-to-let" landlordsCould... View full entry
