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The ultra wealthy live in a very small number of buildings that have no meaningful impact on rental prices for normal people. The high end buildings that are mo
by 3rodents 10mo ago
The ultra wealthy live in a very small number of buildings that have no meaningful impact on rental prices for normal people. The high end buildings that are mostly empty have rents starting at £3k/month for a studio, which is completely out of reach for normal people. London’s problem is the U.K’s problem: not enough housing is being built.
The middle-wealthy landlords are the people profiteering off of normal-people housing, but they are a symptom of not building enough.
- ghusto 10mo ago> London’s problem is the U.K’s problem: not enough housing is being built. The problem is more that a few foreign billionaires are buying up large swaths of housing, and can therefore set their own prices, "don't like it? There are literally millions of other lining up I can exploit instead". This is not a problem outside of the large cities, so no it's not a UK problem.