Anna Minton is a writer, journalist and reader in Architecture at the University of East London. Here she is like a controlled explosion, writing clearly, logically but with anger and passion, about the grotesque inequalities, injustices and absurdities at the heart of our housing crisis.
She highlights how the world’s financial elite, including Russian billionaires, sank their money into London property following the credit crunch and global financial crisis of 2007, as this was the only safe (and lucrative) place for it following the collapse of the banks. To get the best returns, properties are kept empty, or sold into luxury developments.
This means that ‘old money,’ the elites of yesterday, are forced out of the capital into outer London, driving up prices there, and people there move further out, and so it goes on, a rippl eeffect that means the housing crisis is a national one and not just owned by the capital.
Then we have the issue of the gentrification of London’s social housing estates, their demolition, and following sham ‘consultations’ that in turn follow secret ‘financial viability assessments,’ their replacement with accommodation that is beyond its past occupants in terms of affordability. They in turn become exiled from the places they were often born and brought up in, where their lives infrastructures are.
We look at the iniquities of the recent Welfare Reform Acts and just how exploitative and unregulated the private rented sector can be, with high rents, insecure tenure and shoddy conditions, but remaining the only option for lower and mid income households, following the neutering of local authorities as developers and providers of social housing by successive central governments.
To balance this grimness we look at recent successful social activism, in one instance halting redevelopment plans for a Southwark estate, and a group of angry young Mums starting a shaping a formidable protest movement. We look at how local democracy can be renewed, and how in Europe more enlightened policies by central and local government make for positive and progressive models for communities that are truly affordable and equitable.
It’s a brilliant, focused and powerfully argued book, that should make you restless for change.