Posted Mar 4, 2013 by Martin Armstrong
Britain has amazed itself as its taxes have raised nearly 50% more cash than it had expected. These tax increases on property transactions that were imposed in London over the past year has revealed the boom in London luxury residential prices. The same is taking place in New York City. What is going on is capital is being chased from bank accounts and into the open arms of real estate. People are just looking to park money and this is part of the trend as capital shifts from PUBLIC DEBT into the PRIVATE SECTOR. Real estate is rising at the upper end because capital is being chased out of the bushes by the enraged taxmen globally.