Millionaires drop by half
In 2007, there was an estimated 500,000 millionaires in the UK, but according to recent figures this has now halved to 250,000 and the main culprit is the fall in property values.
The research carried out by the Centre for Economics and Business Research found that in 2007, there were 489,000 millionaires in the UK, but [...]
Commercial properties to cost banks £70 billion
It looks as if the UK banking industry are preparing for a £70 million hit, this time it is down the loans that they have issued against commercial property, up until now the commercial property sector has not been in the picture, but that is all about to change.
Some banks are predicting that commercial property [...]