In the post-war period, investment in property has probably provided the easiest way to a fortune. Arguably it has proved the most secure and profitable income earning investment available, and it has emerged as one of the three main investment media held by the financial institutions which dominate the investment market in the UK. Yet in one year — 1974 — the value of City of London offices, previously the most sought after investment of all, fell by over 50%, and the problems of the property market threatened to plunge the UK economy into a slump as critical as that suffered by the US economy after the Wall Street crash of 1929.
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