Investors from Abu Dhabi have secured a deal to purchase the iconic Scotland Yard building in St James’s Park. The building, which has housed the Metropolitan Police Service since 1964, sold for a reported £370 million.
With the Italian economy crippled by recession, more and more churches are being deconsecrated and sold to private buyers, who repurpose these former houses of God into banks, theaters, night clubs and even car repair shops.
The American Dream is slipping further away from the vast majority of Americans than it has in a quarter century. Now 90 percent of US households are poorer than they were in 1987, according to both a new study and the head of the Federal Reserve.
Britain is the only G7 country where inequality has grown since the start of the 21st century, according to a report by Credit Suisse published on Tuesday. It showed the UK’s richest 10 percent have become wealthier since the financial crisis.
Never mind a kingdom for a horse – a homeowner in bankrupt Detroit is willing to trade his house in for the latest iPhone. At less than $1,000, that would mean taking a massive hit, as the beat-up property was bought for $41,000 in 2010.
Manhattan’s One Percenters will now have one more type of real estate investment that the have-nots of the world could never hope to afford: $1 million parking spaces. The spots for sale cost more per square-foot than the luxury building’s apartments do.
While the US government touted its “record” settlement reached this week with Bank of America for mortgage fraud that helped fuel the 2008 recession, the details of the agreement indicate yet another slap on the wrist for an offending Wall Street titan.
London’s real estate prices keep soaring and foreign cash keeps pouring in, yet the ‘world’s most influential city’ has become one of the least appealing places to live in Europe, according to new figures.
Inequality between the richest and poorest metropolitan areas in the US is at its highest since 1969, and could hamper the recovery of the housing market that was at the heart of the 2008 financial crisis.