At £1.25 trillion – £1,250bn – the value of the flats and houses owned by almost two million small-time landlords is catching up on the £1.6 trillion total amassed in workers’ pension schemes.
They then go on to worry about rising mortgage rates. But if the average (mean) bty landlord has £625,000 in equity then it’s not really much of a problem if rates rise. It’s only if that is the gross value, against which we have to put the mortgage borrowings, that it could be.
And if it is a problem them they don’t own that much wealth, do they?