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Housing prices are skyrocketing in cities globally. Longtime residents are pushed out. Gentrifcation, or is it a different kind of monster? Housing as a place to park money.
PUSH is a global drama – investigating an ongoing crime. Who are the players and what are the factors that make housing one of today’s most pressing world
Not long ago, citizens owned 70% of their houses. Now it’s down to 20. People rent their houses from the bank. The mortgages can never be paid off. But the housing market has turned into a financial product. It’s real estate as the investment of choice for corporate finance, private equity firms. A majority of the buyers of real estate in major cities are faceless shell companies with a tax haven identity. A global pattern which has opened the doors for criminal money to ﬂoat from tax havens into cities.