Sure that’s relatively true but it makes no sense for 90% of new housing to be built for those 10% of individuals (and I think it’s less than 10%). What makes m

Sure that’s relatively true but it makes no sense for 90% of new housing to be built for those 10% of individuals (and I think it’s less than 10%). What makes more sense is that direct foreign investment has spiralled prices up because it allows the 10% richest of any country to buy london property (whether they live there or not). I mean I’ve seen ads for London property in Honk Kong and I’ve heard reports of a Russian buying up entire towers in the Battersea development (from a contractor there). I think the idea that current housing is completely unaffordable to the median wage (around 30k) to be incomprehensible unless you account for huge amounts of foreign investment. Sure there’s lot of wealth in London there’s always been. From memory the multiplier between wage-to-house-price went up like 10x in the last couple of decades (let’s say something like from 9x annual salary to 90x) I don’t understand how that could happen without foreign money. People can’t build unaffordable housing to the local population unless they are not catering to the local population.