How basement-loving billionaires are forcing everyone else out | Anna Minton

The vast foreign wealth in London doesn’t trickle down, it displaces. Opulent basements contrast with the glorified cellars in which many people live “I don’t want to expel any oligarchs. Their cranes are sprouting across the city, and it’s marvellous,” Boris Johnson said when he was mayor of London . The cranes were not just building the ubiquitous luxury apartment towers defining the city; they were also digging down, tunnelling underneath the most expensive streets to create multiple storey basements housing swimming pools, cinemas and even an artificial beach with a cascading waterfall. Related: What lies beneath: the subterranean secrets of London's super-rich Continue reading...

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