Ross Clark Ross Clark

The unravelling of the great buy-to-let scam

Ross Clark says speculators and fraudsters saw easy money in buying city-centre flats with borrowed money — but investors and lenders now face huge losses as prices crash

issue 18 October 2008

Ross Clark says speculators and fraudsters saw easy money in buying city-centre flats with borrowed money — but investors and lenders now face huge losses as prices crash

I have developed a rather ghoulish pastime. It involves thumbing through auction results for repossessed apartments in city centres, then checking what those same properties sold for when new, a year or two ago.

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