The capital’s housing affordability crisis is impoverishing private renters,increasing inequality and spreading poverty more widelyThe connections between the capital’s tall and rising housing costs and the fortunes of its people and the city as a whole are large, various and recognised by a wide range of interested parties. Boroughs, or businesses,clued-up campaigners and even Boris Johnson agree - along with increasing numbers of Londoners, of course - that many more homes for low and middle income households are required whether London is to function well, or both as an economy and a society. But the impacts of the crisis aren’t always understood as precisely as they might be. A new analysis published by think tank Centre for London brings into sharper focus its specific effects on poverty and inequality. Tony Travers,Sam Sims and Nicolas Bosetti identify three distinct consequences of house prices in Greater London increasing a staggering six-fold over the past 20 years and private sector rents by a wounding 20% in the past fiveContinue reading...
Source: theguardian.com