Oxfam says wealth of richest 1% equal to other 99%

It uses data from Credit Suisse from October for the report, which urges leaders meeting in Davos this week to take action on inequality.

Oxfam also calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population.

 

It criticised the work of lobbyists and the amount of money kept in tax havens.

Oxfam predicted that the 1% would overtake the rest of the world this time last year.

It takes cash and assets worth $68,800 (£48,300) to get into the top 10%, and $760,000 (£533,000) to be in the 1%. That means that if you own an average house in London without a mortgage, you are probably in the 1%.

Nigeria’s Mortgage Market roars to Life as NMRC offers N440bn bonds

Nigeria’s much needed mortgage market will take a new life next week as the Nigerian Mortgage Refinancing Company (NMRC) kicks off the expansive scheme that will see it raise an initial N10billion in bonds.

 

The state-backed mortgage-refinance company will sell a total N440 billion ($2.2 billion) of bonds as it seeks to expand access to housing funds, its chief executive officer told Bloomberg.

FG’s stance on NMRC interest rate worries real estate stakeholder

The enthusiasm that greeted the launching of the Nigerian Mortgage Refinance Company (NMRC) by the Federal Government in January 2014 is fast fading away, leaving mortgage operators and real estate investors/ developers with worries.