How the "global super-rich" have honeycombed London's posh neighbourhoods with sub-basements, sub-sub-basements, and sub-sub-sub-sub-sub-basements

London -- ground zero for financial shenanigans, money-laundering, and the conversion of housing from a human necessity to an asset-class -- has spent decades converting itself to an inert, open-air vault full of status-displaying safe-deposit boxes owned by offshore criminals and oligarchs who "improve" their empty properties with absurd fripperies to make them more flippable come the day that their local warlord purges them and they need the ready cash. (more…)

from Boing Boing https://ift.tt/2rPULHl
via IFTTT