[jbu]

I keep hearing this, and it doesn't make sense. We don't have a london-sized tent city anywhere. But we have generations that can't afford to buy a home, and the rental market is brutal, but we have piles of london 'investment properties' sold offshore and then left empty as speculation (and other market distortions). We have enough houses, but we distribute them badly.

was talking about this with a friend who knows more. He did point out we need to replace old housing stock, which we also don't do, so just have cold, mouldy old houses. But that's not what's being talked about here.

I also had a twitter conv with a housing charity once, who agreed but pointed out that the financialization of property is hard to overturn, and it's easier to just advocate for more building. Problem I see here is that the new buildings will just be more stock for existing portfolios, and actual prices don't seem to reduce.

[dontpiratekids]

we don't have a london sized tent city, but we do have people in their 40s living with multiple other people, as rent is so expensive in most cities. why is rent so expensive that young people are having to live like students far past their early 20s? because there is not enough housing.

i myself am 29 and live with two other guys in london, our rent is collectively over £3k for a shoddy built-to-rent flat. looking at house prices in the uk, it's hard to think i'll ever own my own home.

[jbu]

ok. yep that's a thing.