London Rents Beat Fifth Avenue by $50

Thanks to the crumbling dollar, the US is losing yet another transatlantic battle of the richest. According to The Guardian, it is no longer home to the world’s most expensive shopping street. New York’s Fifth Avenue was replaced by London’s Old Bond Street, where annual rents per square foot are $1,400.

Bad news for the competitive New Yorkers. Good news for shopaholic Londoners, already booking their Christmas-shopping air tickets to New York.