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High life

Taki: Ugly people build ugly things — look at New York and London

2 November 2013

9:00 AM

2 November 2013

9:00 AM

New York

Hot money from China, India, Russia and Singapore is pouring into London; hotter money from the same countries is flooding into the Bagel. London has become unaffordable for the average Joe around Kensington and Chelsea, as has the West Village in downtown New York. Well, unaffordable is relative. There is a delicate social ecology system pointing in the wrong direction in both metropolises, but — like a stock market gone haywire, as at times markets tend to do — when the correction comes there will be lots and lots of empty luxury lots the poor can move into.

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