Houses of cards: How foreign criminals may contribute to a property crash

All property is theft, it has been observed, and some of the most expensive property in London, especially, appears to have been purchased with the proceeds of crime of one sort or another. Of course, not every home registered to an offshore trust belongs to a drug dealer or money launderer – many are merely legally avoiding their tax obligations, as they would see it – but enough are so financed for the Prime Minister to make a point about proposing to clean things up during a speech in faraway Singapore.