inflating Posted May 22, 2013 Share Posted May 22, 2013 http://www.dailymail.co.uk/news/article-2328915/One-British-households-virtual-millionaires-London-property-boom-stock-market-surge-drive-value-assets.html?ico=news%5Eheadlines One in ten British households are now virtual millionaires: London property boom and stock market surge drive up value of assets UK's richest people now have 850 times more in assets than the poorest The wealthiest in society are middle aged and hold more than one property Majority of the one in ten £1m households are in London and South-East The Comments make for some interesting reading, although I dare say the millionaires are too busy spending their equity... Quote Link to comment Share on other sites More sharing options...
zugzwang Posted May 22, 2013 Share Posted May 22, 2013 The Comments make for some interesting reading, although I dare say the millionaires are too busy spending their equity... One in ten British households are now virtual millionaires: London property boom bubble and stock market surge bubble drive up the fictional value of assets UK's richest people now have 850 times more in assets phantom equity than the poorest The wealthiest in society are middle aged rent-seeking parasites and hold more than one property Majority of the one in ten £1m households are financial criminals in London and South-East Quote Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted May 22, 2013 Share Posted May 22, 2013 At first I assumed the numbers didn't net out debts, but it seems that they do. It would be interesting to see how much of the total comes from final salary pension schemes (particularly public sector ones). Right now, for example, the assets required to buy a pension of 40K for life would be around 1M GBP. Quote Link to comment Share on other sites More sharing options...
easy2012 Posted May 22, 2013 Share Posted May 22, 2013 At first I assumed the numbers didn't net out debts, but it seems that they do. It would be interesting to see how much of the total comes from final salary pension schemes (particularly public sector ones). Right now, for example, the assets required to buy a pension of 40K for life would be around 1M GBP. Interesting that this comes up again. This data was published by ONS several months back I believe. And yes, final salary pension consist of a large chunk of that ''wealth', valued at prevailing long rates (4% ish indeed). Quote Link to comment Share on other sites More sharing options...
AThirdWay Posted May 22, 2013 Share Posted May 22, 2013 Funny that.... the further North you go, the less millionaires you are likely to meet..... Having said that, the islands up here are full of Londoners who sold their 2 bed flat in NW1 and bought small farms on the proceeds! Quote Link to comment Share on other sites More sharing options...
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