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Traditional assets soar; growth stalls

Rana Foroohar

Financial Times

For all the talk of cryptocurrencies and big data, most 21st-century wealth is still in bricks and mortar, says Rana Foroohar. A new study from the McKinsey Global Institute has some “eye-popping numbers”. Looking at the balance sheets of ten countries representing 60% of global income, it found that two-thirds of net worth is stored in real estate and land. This has a lot to do with falling interest rates as well as “constrained