Explained: Why London is full of empty homes
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- čas přidán 27. 01. 2020
- 25,000 homes in London are currently unoccupied. In fact, There’s a higher percentage of empty homes in the capital than anywhere else in the country.
Together they have an estimated value of £12.2 billion.
England needs three million new social homes to be built in the next 20 years to solve the "housing crisis."
277,000 people are homeless in England, many lost their privately rented homes.
80 per cent think they will never be able to buy a home and seven out of 10 London renters say the stress is harming their mental health.
#HousingCrisis
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People in London are moving quite far away just to have a normal amount of living space.
czcams.com/video/9lTyaCRtP5s/video.html
@Ian Brown No problem to call them criminals, but the people who deal with criminals should be called criminals also.
In Every city centre around the world... Normal people can't afford to live there...its prime position so its premium costs.. Its not rocket science you brainless lefty prick
@Dirk Smith That's right, those normal people have no right to live in london, even if they and their families have lived there their whole lives. Those bin men, window cleaners, gardeners, teachers... the working class peasants, should live outside the Capital and commute for hours so that the bankers, traders and foreign investors can do the work that really matters.
It's great to be able to partake in that right wing intelligence, your boi Bojo would be proud.
I've gone from London to Hastings to Cornwall; so depressing, uk housing standards in general are the poorest I've encountered
Corrupt UK judges always side with criminal landlords 😐
It is shameful that Londoners are being "ethnicity cleansed" out of their own city to make way for empty homes.
It's shameful that our councils have conspired to demolish council housing and hand over land to the people doing this.
This is Happening in Brentford Bigtime,A Socialist Council Selling off Land To Building Contractors, Build Build Build! Expensive Flats.Back Handers?
You are so right . I am 62 and lived in Bethnal Green and Stepney since1970 . They close our pubs but open their own put up prices and sell the beers we don't recognise or like . Everything we did is frowned upon they don't even use the same shops .
Thatcher started it all in the 1980's
@StuArt Ish if by Labour you mean Tony Bliar, I think you forget Thatcher let the cat out of the bag when she praised him as the greatest Tory in a generation.
@StuArt Ish the majority of those 'immigrants' were refugee's from places we, as a country, were involved in destroying so America could take their oil, or other mineral wealth.
I would argue that Bliar (deliberate spelling) was a Tory at heart. He took the Labour Party so far to the right, that for a relatively short time, it was further right than the conservatives, until they put Ca-moron at the head.
I say ENOUGH IS ENOUGH ..........ELITISM NO MORE GUYS ......
Hong Kong, they take to the streets
UK, we post angry tweets.
Nuff said.
So true
Westerner young too busy fighting dead people and statues. Issues today are too hard so leave it for the next generation. None of them care about HK, Yemen etc because those issues are not cool.
Actually, in Hong Kong everybody buys UK investment property.
I'm looking forward to leaving London.
Have you moved out of London yet? I will need to do this soon and am gutted to go ☹️
@@BertieBlackCat I haven't left yet. If I get made redundant anytime in the next couple of years I will leave they I receive the money.
@@Solomon_Bachelor OK, best of luck with the next step. Where are you thinking out of curiosity?
@@BertieBlackCat it depends on if I'm broke or not. If I'm broke I'll move up north to stretch the money out, if I'm doing ok I'll move to the south west of England, if I'm doing fantastic then I'll travel around south America.
where do u live atm in london? which area
Unregulated market economics is garbage.
And Communism is shit...
@@davidskitmore1567 False dichotomies are far worse
Nice how you called out Brexit, but completely ignored the buying up of property by Chinese investors who then sit on them; that happened on Boris' watch as well, just in case you still want your pound of flesh. But why won't you call it out..? What, are you afraid of being called names?
@@markohenry5891 same issue in California
@@markohenry5891 I thought the same, it's not like they're building them and just simply stuck with them, if that was the case the 'bubble' would have burst a long time ago, as there would be no one to sustain it. If empty properties do exist, it will be because of investors from abroad and some I assume in the UK who are just leaving them empty. But I still see an issue with that; would it not be better for them to rent them out? Yes they can rise in price, but top range apartments will not be increasing in price as fast as low end ones, simply due to the smaller market, at which point does leaving them empty really yield that great of a return? I think there's something more to it. Supply is definitely still a problem, and I think this kind of implies it isn't, but I don't know, the whole situations is f*cked.
@@ntl9974 all over nyc, South FL, Austin tx.
Not just the Chinese. Russians and Arabs as well.
The UK is such a mess. But ey, the people get the politics they deserve
The UK 3 years on.. Its dying, every UK city is full of UK citizens that are homeless.
Coastal towns.. over run with illegals, rent, clothes, money, bikes "Free"
Our country is no-more
What do you think HS2 is being built for? It is to ship the working class in and out of London, so they can service the wealthy London elite!
No working class person will be able to afford to buy a HS2 rail ticket. If you check the statistics, most of the rich are leaving London and moving to the countryside.
@@bluebull399 people of all classes are leaving London.
Time for the peoples to take back their countries laws ......
Just have done in Dec.
P,ease be sarcastic
douglas Probert just out of interest, which laws from the EU do you hate so much?
@@willmalin3752 Wasteful ones like throwing dead fish back in the sea. This level playing field means we cannot subsidise companies and keep people in work. Human rights that prevent us deporting the worst criminals. Probably lots, the fact is our own people should make our laws and be held accountable.
not empty of population though, totally dis-balanced place
They can't sell these luxury homes? I'll buy ANY home in London (or the UK.) But for the right price!
The fact is, they are asking too much! Lower the price and it will sell. Can't make a profit? Tough! It's call free market economics.
Can't find anywhere to buy? Pay more! Can't find a buyer? Lower the price! Read up on supply/demand economics!
London is about to get a very health dose of good old supply and demand economics.
Cleansing is what is going on ......Westminster your government is killing YAS .......
New luxury homes are never going to lived in by the average Londoners. And luxury flats (all the unoccupied ones) are a drop in the bucket to what’s needed for social housing, BUT the creation of luxury flats does absorb overseas money and creates employment for Londoners (construction, real estate etc etc). So just leave them to it. Major Kahn is supposed to be solving London’s homeless problem. What’s he ever done? There’s row upon row of low density terrace housing all over outer London. Replacing some of that with higher density housing could only be done with a change to planning laws and local grants etc. Again, what’s Kahn done? Zip.
changing laws that's what we need, Khan is far far from being capable of contribute to that
Why cant they put a stop to high properly prices.
...Blair began this catastrophe.
Saxon Stacker
He did, there is no such thing as a housing crises, there is a “too many immigrants” crisis
and a “houses being sold to rich Arabs and Chinese” crises . This needs to stop, why the fuck should British people be sleeping rough, due to their inability to afford homes in their own Towns.
Blair totally fucked my beautiful ENGLAND right up ,only took him a dozen years ,him and all his Scottish lefty pals .One trillion in debt in the end ,then left the sinking ship ( like a rat) to his buddy G. B . Yeah socialism works dunit !? I term it as 1995 B.B. and 2008 A.B. -Before Blair -After Blair ,if your wondering .Made millions old Blair didn't he, him and his dodgy ,scheming , money grabbing wife . FUCKERS! Labour -for the working class -don't think so ! Depended on wether you were English or not ! Traitors to the realm ORF WITH HIS HEAD and his partner !!!! 😊✌👍
david tomlinson . Oh, and took a country to war against its democratic will, because ‘he’ thought it was the ‘right thing to do’ . Luckily for him, by converting to Catholicism, he gets to repent on earth and still go to Heaven.......... apparently.
I thought it was Thatcher
@@Ida-Adriana It was Thatcher, selling off council houses but not allowing a single penny of that money to be spent on new house building and using it to pay off debt, investment in social housing earns you money over time if you do it properly.
It's a problem that's bben bubbling away for decades and now we're living with the consequences
They e been constructing new flats around my area for like 5 years now and me and my family of 8 still somehow live in a 2 bedroom
There 8s no housing shortage in the UK, but there is an affordability shortage in the UK and especially in London.
I like the style but that was a pretty inconclusive report?
there's not a conclusion at all, but people love emotions not logic
The problem with housing goes back to 1971 when monetary policy (the policy that polices the creation of money) was overhauled, under the 'credit and competition' changes. This was done by Samuel Barber under the Heath Government (Margaret Thatcher and Keith Joseph were cabinet members) and has had a profound impact on the UK economy, for the worse. The Thatcher government fully embraced neoliberal policies and Blair/Brown just continued this legacy. The problem is neoliberalism, specifically neoliberal monetary policy but the rest of neoliberalism is junk as well. Blaming individuals does not really make any sense, you need to understand the processes at play. Specifically, you need to understand, what the critical difference is between a bank and building society is...and its not the obvious answer everyone gives.
What is the difference?
Maybe building societies can't take part in the kind of corrupt practices that banks get involved with?
@@Ida-Adriana Building Socities recycle money, so savings create loans. A Bank is very different a bank does not need savings to create loans, it create money through loans as if out of thin air. This means banks can create inflationary bubbles depending on their lending. From 1971 banks increasingly were involved in the housing market, in 1997 some Building Socs became banks, this created a huge boom, which subsequently crashed in GFC.
@@Ida-Adriana Worth repeating...Building Societies recycle money while Banks create money of thin air. BoE admitted this here:www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy. Thanks to the work of Richard Werner, check his YT appearances out.
@@paulhamed2776 - Thank you for saying this - I've been trying to explain this to people for years - the background is really useful as I never knew it went that far back.
It drives me nuts when I hear people saying that in order to solve the housing / home ownership crisis we just make it easier to get a mortgage - or extend the term, or increase the amount you can borrow.
"So you're going to solve the housing crisis by doing more of the thing that caused it - what could possibly go wrong?"
Surely that London Mayors Khan fault to allow them to continue to build in London........we , all the residents in Kingsfisher Height opposed the council to build three more luxury buildings next to ours......the council allowed it ...even against the police and the firemen suggestion........they said it's too dangerous and build the buildings
So closed ....because if fire hazard and the fire engine can't drive through the paths between the buildings, it would also take away the free parking lot for the public to enjoy the green park. Resident went to the council to want to talk to them....but without a word , the council passed the law to build....
This is called corruption ....someone had taken the money backhanded from the French builders for sure.....
That's why there's too many expensive empty homes.....instead of build more council flats ....it's all the councils fault, the mayor s fault....knife crime is on the rise.....
Kick the bloody Khan out of his office
All the councils should be investigated, they know it, so they're busy.
Corruption is a quite pandemic thing.
Is he related to Genghis
@StuArt Ish actually, if you just look at the new blocks of flats built next to the roads full of motor traffic producing poisoning pollution... it's some sort of gas chambers
Same thing happening in Vancouver 😑
I think it's sort of the price that citizens have to pay for such a country like canada, it's unholding & every year will rise rise rise the prices
It all went downhill when Thatcher brought in the right to buy council accommodation.
Investment property should be rented out by law. The investor can use the rental income to pay for any maintenance at the property. The government should set up an agency to manage the tenants so the investor doesn't have to get involved.
Price increases mostly
You haven't really explained why there are so many empty homes.
You get a better idea reading the comments 👍🏻
Greedy estate agents the more you sell for the more the greedy bastards get .should illegal to have empty housing they should charge the landlords for not occupying the homes would force to lower the rents
Too much money everywhere the rent goes up everywhere is disgusting
You could look at it another way. 27,000 homeless in London but 3,000,000 immigrants housed in London..
Not just London , any university city has empty blocks of flats that were purposely built as student accommodation !! Not enough students and the accommodation is not adequate for working professionals !! Hence brand new buildings sitting empty !!
Its too expensive. Thats why.
This exists because of builders agents who scammed investors. Ultimately what will happen is the investors will no longer be able to afford to pay their mortgages and the accommodation will be sold off at a loss. You can't blame the investors, blame the agents that sold the apartments in the first place.
@@grimgoreironhide9985 yes , that too !
Not to worry council will pay and put them in these buildings
One word ,Globalism.
This is the thing this is what I’ve been saying there is so many empty properties in England that the government doesn’t want to work on. They just want to leave them empty and abandoned like a ghost town. They don’t care and it is such a shame because the way this world is going, it is falling apart is making anything better. The way is going on now is awful new buildings, YY build new buildings when you can rebuild. These old buildings are standing there empty, but the government don’t think like that do they
At last someonev is highlighting this. Well done
If I want to buy a house as an investment that's my business. The government cant tell me to put a tramp in it.
People want houses for nothing.
@@GeraldRFord-ib3kz Because they earn nothing, because they do nothing and Britain says : Welcome
Well that's a selfish attitude. I have a large portfolio including London prime and all my apartments have tenants in, I even give them free broadband. You should always give back to the city, the economy and people who are less fortunate, it's the right thing to do.
Completely agree, why run the risk of renting out to someone on benefits that may not pay the rent, or abuse the property?
This is like a dystopian movie.
The real problem is the cost in transporting low-value people in from outside of London to support our basic quality of life. Projects like CrossRail, have shown that it could be possible to build an "under-city" where service units could be provided with basic accommodation and food.This would also allow us to import others from the third world, as existing units die due to illness and natural wastage. This would be a "win-win" for all, and eliminate the housing problem.
There is a solution to everything, even a final one...you might be closer to the truth than you think
Basically advocating wage-slaves. Great 👍🏻
How would importing more people from other countries eliminate a housing problem? More people means even higher prices. What's funny is a lot of Eastern Europeans are actually going back home because the quality of life is better in their own countries now!
@@danieladams4561 Not necessarily if wages are seriously implemented. Slavery is made by slavemasters, not by people coming here. And those slavemasters have every interest to keep people underdeveloped and divided. We are all in the same sh9t, only fighting for HUMANITY and burning our stupid flags will save us. Borders aren't real.
The shard is not a ghost tower. Companies are based there.
Filling the empty homes with homeless won't solve the housing crisis - it's that bad.
What a Sin!! This is disgusting Government needs to care about the homeless and fine investors for leaving empty homes while Brits are homeless.
FAR OUT!!!👍
lost respect the moment he started spilling the pint for no reason...
brilliant video on a not so brillant problem :)
Jeez the video is a bit dramatic
A bit dramatic? The truth a bit strong for you? Then go to some other channel where you can pretend everything's hunky dory you numpty?
That's 2min 52 sec I can't get back, what a load of rubbish, everyone wants to blame the rich or the Politicians for poor people's troubles.
This is why we need social housing.
and it won't ever change, thats the sad truth. If I can give any advice it is not to buy now as the bubble will burst soon. All the artificial products such as stamp duty relief has artificially caused demand whilst before this, the sales market was struggling ever since the last articitifial product in 2014.
The government are desperately trying to prop up the property market with all these schemes. They are running out of options and eventually the inevitable will happen. What else can they possibly do, 100% mortgages?
@@bluebull399 I perhaps spoke in haste, they will keep it going for now. Great time to sell but look at the crazy price increases in areas that were trading 100% lower in 2019. It is unrealistic and unsustainable
It would be nice for people to have a home all these places are all empty think about people that are in need of a home that’s what they should do
Manchester is truly grate
the majority of homeless people aren't even homeless because of housing
Good video but ....
You said that 72 people died “in there” pointing at the Grenfell Tower.
Speak to anyone who knew people before the first and who were present during the fire and you will be told that there were over 500, more like 572 people who died in there.
Brexit got nothing to do with it.
brexit did nothing wrong xD
It poured petrol on the fire
Don't think your new mayor of London gives a shit either
They should move out of London then.
Time to make money priceless ......
Because of the scummy landlords keep changing the rent prices
Not entirely our fault. The managing agents keep telling us they can more than the current rent and that there people willing to pay it. The reason is, they get paid more rent is higher.
It’s because they want to make the richer richer and the poor poor as well
It's nothing to do with Brexit, Blair is the reason.
Sure... Why don't you also blame the Great War while you're at it 🤔
Blair has 100 houses on MPs money I don't think so that's why he loved the EU he was on a good screw
What did Blair do?
well. boris wont like this...
Spilt his beer but downed his champagne another champagne Socialist...
That’s what you get for being socialist.
This is a capitalist issue.
Mmmmmm.... guapo ese Rubio