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Owen Jones: Property Developers Are Overtaking Bankers As The New Global Menace - Comment Is Free Video

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They're shamelessly greedy, they're tearing apart communities and they're one of the main drivers of inequality. Bankers? Tax dodgers? Actually, it's property developers. If they continue in this way, argues Owen Jones, housing will become a luxury asset for a few to make billions from while ordinary citizens are priced out of their homes

http://www.theguardian.com/commentisfree/video/2014/dec/10/owen-jones-property-developers-bankers-global-menace-comment-is-free-video

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Guest Jemmy Button

Personally, as soon as someone tells me they are a property developer (or anything related to property) they may as well have "WANGER" tattooed on their foreheads. Owen Jones is quite correct but as always with the Left, fails to see the correlation between mass immigration and the need to build new homes. That the Left fails to understand this makes me think that they must be completely thick as two short planks...

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Personally, as soon as someone tells me they are a property developer (or anything related to property) they may as well have "WANGER" tattooed on their foreheads. Owen Jones is quite correct but as always with the Left, fails to see the correlation between mass immigration and the need to build new homes. That the Left fails to understand this makes me think that they must be completely thick as two short planks...

Doubt it. He's a statist. Thus his guiding principle is creating a problem, feigning a reaction, offering a 'solution'

The left need things like immigration to conjure up a problem...in this case a housing shortage.

The last thing the left want is to actually fix things. They need to perpetuate misery for their continued existence.

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Not sure I entirely buy the argument "soon only wealthy people will be able to afford London'. Going to be a lot of empty properties then. Are there enough 'global rich' to buy all the houses in London?

I'd rather the global rich do the initial price discovery on all the new builds in London rather than an overstretched FTB on a 90% mortgage and relying on BOMAD for their deposit. Its getting the stuff and infrastructure at least built and I suspect the first wave of investors will take quite a haircut.

Its bad what is happening at New Era estate, but looking at the place, are the flats really worth £2000 a month? All that money for what effectively looks like a Council Estate.(although its not)

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Guest Jemmy Button

I would have thought a 4 million population increase due to immigration over the last 10 years would have had something to do with the lack of housing....

Yup. Shelter says that 250,000 new homes need to be built every year. At the same time, we are letting in 250,000 new migrants every year. You don't need a crystal ball to see what's happening here.

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Did the bankers write this?

$1quadrillion of bankster derivative gambling debts can take down the entire world. The property developers are minnows, and in any case who is ultimately responsible for the property ponzi? The banksters set the rates that caused the property ponzi.

Don't lose focus, the banksters are the problem.

Edited by evetsm

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Not seen link but in general improving (developing) property is a good thing.

We need more habitable homes not fewer. Unless his point is different.

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He has big, corporate developers in his sights - particularly the kind that come in and take over former local authority estates, kick out the tenants and quadruple rents.

What he doesn't explain is why local authorities sell to developers in the first place. He's naive if he thinks big developers have a social conscience.

The shocking truth is that they are in it to make money, and maybe lose it from time to time.

Agree with the above post about developers in general being a helpful thing - if someone takes a derelict property and makes it habitable, that has to be a good thing.

I guess smaller developers are also the ones who run most risk - no-one has to buy the properties they do up, and they're not the ones banks are likely to give any leeway to.

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For sure property developers should accept their fair share of the responsibility for poor housing and crazy house prices but they aren't the instigators of policies like Help to Sell, Funding For Lending etc etc etc although they might well have lobbied for that type of support. They don't decide interest rates or lending policies, planning, benefits or tax incentives etc etc etc although they might well lobby.

The overall policies are put in place by the governments although it's pretty well recognised that the banks and corporates (via central banks, lobbyists and quangos and general cronyism etc etc ) have a big say and maybe even a final say a lot of the time.

On 9 September last year Mr Osborne the Chancellor made a keynote speech about the economy on a London property development building site 1 Commercial Street giving them the tip off about the general direction of things at least until the general election.


https://

www.gov.uk/government/speeches/chancellor-speech-on-the-economy

That keynote speech helps to sum up the relationship. Property developers etc do bear responsibility (as for example often their schemes are thoughtless and inconsiderate in their greed) but not the main responsibility.

Edited by billybong

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Owen Jones is the cardboard cutout leftie - uncontrolled immigration is not a problem, but a housing shortage is a problem. Uncontrolled immigration is not a problem, but wage stagnation / zero hours is a problem. Uncontrolled immigration is not a problem, but hospitals not being able to cope is a problem. Uncontrolled immigration is not a problem, but lack of job opportunities for the younger generations is a problem - Etc etc etc

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Guest UK Debt Slave

Doubt it. He's a statist. Thus his guiding principle is creating a problem, feigning a reaction, offering a 'solution'

The left need things like immigration to conjure up a problem...in this case a housing shortage.

The last thing the left want is to actually fix things. They need to perpetuate misery for their continued existence.

Great post

Owen Jones is a monumental idiot

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Guest UK Debt Slave

Owen Jones is the cardboard cutout leftie - uncontrolled immigration is not a problem, but a housing shortage is a problem. Uncontrolled immigration is not a problem, but wage stagnation / zero hours is a problem. Uncontrolled immigration is not a problem, but hospitals not being able to cope is a problem. Uncontrolled immigration is not a problem, but lack of job opportunities for the younger generations is a problem - Etc etc etc

Sorry, but that's the best oxymoron I've heard for quite some time

Edited by UK Debt Slave

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:) ...and you can read just from the search result titles alone Owen Jones' views on immigration:-

https://www.google.com/search?q=owen+jones+on+immigration

There's a very clear conflict of interest here. He's probably making more than £100k a year by increasing the number of migrants into the UK.

Owen is also an expert in business immigration and heads up our service assisting both corporate and individual clients with business immigration matters. He has been interviewed on BBC Radio 4 and BBC Radio 5 and is an authority on sponsorship and the points based system (PBS) together with entry clearance applications. Owen also deals with business immigration routes outside of the PBS together with applications for indefinite leave to remain and naturalisation; his familiarity with UK Border Agency processes and procedures inside and outside the UK is valued by clients.

http://www.doyleclayton.co.uk/about/our-people/owen-jones

^_^

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Doubt it. He's a statist. Thus his guiding principle is creating a problem, feigning a reaction, offering a 'solution'

The left need things like immigration to conjure up a problem...in this case a housing shortage.

The last thing the left want is to actually fix things. They need to perpetuate misery for their continued existence.

Well i half agree. He has really outdone himself here - how on earth 'property developers' are now the cause of 'the problem' ? what exactly is he hoping to achieve by blaming them ?

Thanks Owen, some property developers have done Bad Things in india. You clearly haven't got a fecking clue of the state we're in or what to do about it but have been given a platform to mouth off anyway, clearly the Party for you is UKIP...

On the other hand, obviously there is a problem, we do need to react and we do need to discuss solutions.

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Guest Jemmy Button

Property developers/property speculators - all the same, all utter greedy knobs. Like the Wilsons, they're all in it to make a killing, all out to screw everyone else. Yeah, they do up a derelict building (GOOD) but then try and flog it at a price no one can really afford. So what is the point? The only development I want to see is for Social Housing with sensible rents. To summise, I just hate everyone connected with housing. Full stop.

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Well i half agree. He has really outdone himself here - how on earth 'property developers' are now the cause of 'the problem' ? what exactly is he hoping to achieve by blaming them ?

Thanks Owen, some property developers have done Bad Things in india. You clearly haven't got a fecking clue of the state we're in or what to do about it but have been given a platform to mouth off anyway, clearly the Party for you is UKIP...

On the other hand, obviously there is a problem, we do need to react and we do need to discuss solutions.

I think the bottom line is Property developers work within a system. A hugely corrupt and abusive system. They are forced to pay excessive sums for land, and as such charge even more excessive sums.

If they could pay less excessive sums for land and renovations, they would charge less. Looking back at 1995 prices on zoopla, a new build 3 bed detached in places like Northants, Cambs and Beds was typically £50-70k, well within affordability levels. Many of these same developers are charging £300-400k for similar now.

Had Gordon Brown allowed them to collaspe in 2008/09, prudent developers would have picked up their land banks at a price consumers could afford.

But already labour, and I suspect Jones, given their total hatred for bliar and the absence of any other 'visible' labour figure are trying to reinvent Brown as some kind of economic and equality saviour.

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