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How housing became the world’s biggest asset class

It is only a recent phenomenonSpecial reportJan 16th 2020 editionIN 1762 BENJAMIN FRANKLIN set sail from England to Philadelphia after several years away. On his arrival he was shocked by what he saw. “The Expence of Living is greatly advanc’d in my Absence,” he wrote to a friend. Housing, he thought, had become particularly expensive. “Rent…

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