Scratches head and pulls out a splinter or two
High house prices are a measure of poverty
The JRF study suggested that in-work poverty was driven by housing costs, especially in the private rented sector, where the numbers living in poverty had doubled to 4.5 million in a decade. This was the key factor behind London recording the highest poverty rate at 27% - 6% above the UK average, according to the study.
Another facility making way for flats
Fountain studios in Wembley where ITV programs have been made since 1955 is being demolished to build "Luxury Flats". I thought one of the appeals of London was supposed to be all the culture and entertainment facilities. I guess they are less important than a quick profit. . This seems to be a recurring theme - Docklands Arena (which I visited quite a few times), BBC Television Centre, and in the future perhaps Earls Court.
They all need homes
Telegraph: Latest ONS immigration figures reveal a record number of EU migrants came to live in Britain in 2016
As I have said ad-infinutum, this pause between EU and Brexit will result in countless people front-running border controls. Almost 600k immigrants the past year, with net migration at over 335k, with illegal or undocumented or undeclared immigration likely being double the 600k level at maybe 1.2m. Many heading to London. This is why affordability in London in particular will plummet and prices will likely start moving into a hyperinflation level if action is not taken soon. When you compare it with annual house building starts to June of just 144,280, I think we start to see the problem coming into focus. This growth simply is not being planned for and if you knew the cost of satisfying demand for homes and infrastructure, you would be protesting on the streets.
Government creates the rigged housing market
UK property to fall 50%?
Imagine if the profit from the uplift in value of land from granting planning permission was spent on building council housing - Job done better still tax all land value away. But currently the profits are obscene and this is the real force of monopoly stopping new houses being built.
Autumn Budget Statement
Business Insider: The Chancellor is planning a Â£23 billion spending bonanza on housing, technology, and transport
By committing a few billion pounds towards house building, the chancellor has implicitly acknowledged that we have a problem. IMO the targets of 100,000 new homes in expensive areas and 40,000 cheaper homes will not be enough to correct our housing market mess but at least it's a move in the right direction.