Today I read two articles about “Home Ownership”. Although, not surprised, but, nonetheless, as a father dreaming of home ownership for my sons and others in their generation, I was greatly troubled by what I was reading. It begs the question:
What kind of world are we living in? What about the dream of young people, to own their own homes, the same way that the current older generation were able to?
This is why I want to share these two different stories of home ownership with you. It is an affront to humanity the way the young people are paying the price for the destruction of the global economy by the older generation. What happened to justice? What happened to the common good?
First, home ownership: A view from the Young People, the 99%
Locked out of the property market
“My generation have always suspected we wouldn't be able to buy a home of our own, but now we're realising we might not be able to rent one either…for most people I know, owning a house will no doubt remain a fantasy. It's something that's become clear over the past few years – that those of us who live in cities, whose jobs are not secure, who are flitting from call centre to job centre and back again throughout our 20s and 30s, whose parents don't have property portfolios, those of us who are single, or still trying to do art or music or something they dreamed of, are unlikely to be able to afford the deposit for a flat. Which would be fine – especially fine when the bath fills with soupy, rust-coloured water, or the smell from the downstairs chicken shop actually stops you in your tracks when you walk through the door even though they promise their filter system meets legal standards – if only renting wasn't significantly more expensive (on average 16%) than buying…
…in fact, it makes me feel like I'm going a bit mad. And it highlights the ever-lurking threat of homelessness – that slow slide over a year from being made redundant, to being priced out of your shared flat, to carrying your rucksack between friends' futons, and then, after a clipped conversation in their little blue kitchen, sitting on a bench at dawn with nowhere to go.”-- Eva Wiseman, London
And Now, home ownership: A view from the 1%
Shacking up in The Shard: The London flats with a sea view... but only on a VERY clear day, and it'll cost you up to £50m
“Situated near the top of a new 1,020ft skyscraper, they are the perfect apartments for high-fliers. Ten properties at The Shard in Central London are expected to fetch between £30 million and £50 million each, and will be the first to offer their owners a view of the sea from the capital – on a clear day, at least. As the most elevated homes in Western Europe, occupants will be able to spot ships in the North Sea 44 miles away, or the grandstand at Ascot racecourse in Berkshire. Even when it is raining, the flats in the £1.5 billion glass spire – which is six times the height of Nelson’s Column – will often poke through the clouds…
…The Shard’s 62,000 sq ft apartments, which have floor-to-ceiling windows to enhance the stunning views, are on floors 53 to 65 of the 72-storey building. Even the lowest flat will have a higher altitude than any residential space ever built in London, while the penthouse will be at 735ft. The exterior of the tower will be completed by July and it is expected to open next year…‘The developers could get whatever they want for them. People are falling over themselves to buy trophy homes like this in London. The capital is benefiting from trouble elsewhere.”…
Read more:
Locked out of the property market
http://www.guardian.co.uk/lifeandstyle/2012/may/06/renting-property-eva-wiseman/print
Shacking up in The Shard: The London flats with a sea view... but only on a VERY clear day and it'll cost you up to £50m