PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Monday, January 16, 2012

London’s Super Rich Send Real Estate Prices Through The Roof

A woman walks past a real estate agent's window in west London. (AP)

Around the world, inequality is growing and the rich are getting richer. And they have a very special problem: where to find a safe haven for all of that money.

Many have been choosing to invest in prime real estate.

A recent story in the online journal, Russia Today, reported that a Russian billionaire spent $88 million for a 4-bedroom apartment on Central Park West in New York City.

In Miami Beach, the owner of the Russian Standard Bank and Russian Standard Vodka paid $25 million for an estate–the most expensive home purchase in the city since 2006.

The same thing is happening in London — and this has sent property prices soaring. The BBC’s Michael Robinson finds out – that’s proving to be a problem for other Londoners.


Please follow our community rules when engaging in comment discussion on this site.
Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

July 30 35 Comments

Oxford Conservationist Talks About 7 Years Of Tracking Cecil

The 13-year-old lion was not only a tourist favorite, but also, a research animal. The beloved lion was being studied by the Oxford University Conservation Unit.

July 30 27 Comments

NAACP To Begin 860-Mile ‘Journey For Justice’ March

The march, which will travel from Selma, Ala. to Washington, seeks to highlight vulnerable communities subject to regressive voting rights.

July 29 2 Comments

Garden-Inspired Cooking With Kathy Gunst

We visit our resident chef's garden in Maine, make gazpacho and get a recipe for a plum tart with hazelnut crust.

July 29 663 Comments

Two Sides Of The GMO Debate

We moderate a debate over a bill that would bar states from forcing food manufacturers to label genetically modified foods.