{"id":349,"date":"2015-12-01T15:51:14","date_gmt":"2015-12-01T15:51:14","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/a-new-era-is-capitalism-creating-an-unaffordable-capital\/"},"modified":"2018-02-19T08:08:59","modified_gmt":"2018-02-19T08:08:59","slug":"a-new-era-is-capitalism-creating-an-unaffordable-capital","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/a-new-era-is-capitalism-creating-an-unaffordable-capital\/","title":{"rendered":"A New Era. Is Capitalism Creating An Unaffordable Capital?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><a class=\"wl-entity-page-link\" title=\"low-\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/affordable-housing\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/affordable_housing;http:\/\/rdf.freebase.com\/ns\/m.09jvc1;http:\/\/dbpedia.org\/resource\/Affordable_housing\" >Affordable housing<\/a> was thought to be the saviour of the working classes, keeping rent costs at a level that a living wage can sustain. However, just as fast as developers build new <a class=\"wl-entity-page-link\" title=\"Home\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >homes<\/a>, they are coming up with new ways to redevelop and re-<a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a> homes at an unaffordable price. The affordable housing \u2018public enemy no.1\u2019 of the moment &#8211; Westbrook Partners &#8211; have recently purchased <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> in the <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/london\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/london;http:\/\/sws.geonames.org\/2643743\/;http:\/\/rdf.freebase.com\/ns\/m.04jpl;http:\/\/yago-knowledge.org\/resource\/London;http:\/\/dbpedia.org\/resource\/London\" >London<\/a> borough of Hackney and it is understood that they are planning to evict the lifelong tenants from their homes.<\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\">This aggressive move is closely followed by speculation that the company is planning to re-market the new homes at roughly three times the current <a class=\"wl-entity-page-link\" title=\"Renting\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renting\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting;http:\/\/rdf.freebase.com\/ns\/m.01y857;http:\/\/dbpedia.org\/resource\/Renting\" >rental<\/a> price. In what is being termed the \u2018NewEra saga\u2019, the shadow justice secretary and shadow minister for London, Sadiq Khan, told the Guardian this \u201cShameful saga embodies everything that is wrong with London\u2019s broken <a class=\"wl-entity-page-link\" title=\"Real estate economics\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate_economics;http:\/\/rdf.freebase.com\/ns\/m.04t2q1;http:\/\/dbpedia.org\/resource\/Real_estate_economics\" >housing market<\/a>.\u201d Many demonstrators have rallied to the support of the residents, gaining hundreds of thousands of petition signatures as well as getting celebrities involved in a demonstration taking place at No.10 Downing Street. Residents have accused large profit hungry organisations of forcing \u201cLondon people out of London\u201d. The demonstration comes as an attempt to lobby Westbrook Partners to sell the New Era estate to a <a class=\"wl-entity-page-link\" title=\"Public housing\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/public-housing\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/public_housing;http:\/\/rdf.freebase.com\/ns\/m.0184vk;http:\/\/dbpedia.org\/resource\/Public_housing\" >social housing<\/a> developer to ensure prolonged, low-cost rents.<\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><span style=\"text-indent: 36pt;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><span style=\"text-indent: 36pt;\">\u00a0 \u00a0 \u00a0 \u00a0\u00a0<iframe loading=\"lazy\" src=\"\/\/www.youtube.com\/embed\/UJN4OTb7Tvs\" width=\"420\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><span style=\"text-indent: 36pt;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><span style=\"font-size: medium;\"><span style=\"text-indent: 36pt;\">With national rental prices reaching their highest ever levels, at a national average of \u00a3768 in October 2014 and an average of \u00a31,166 in London, the cost of living for many households is rising drastically amongst increasing inflation and slow wage rises. The attractiveness of London as a home is proving detrimental to those that already reside there and is clearly forcing many out to the rest of the country. <\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\"><span style=\"font-size: medium;\"><span style=\"text-indent: 36pt;\">In an ironic case of small government conservatism, The Mayor of London was abroad on business during these demonstrations whilst Labour MP for Hackney Dianne Abbott was \u2018with the people\u2019, protesting for the rights of her constituents. The end to this \u2018saga\u2019 seems nowhere in sight, as many <a class=\"wl-entity-page-link\" title=\"Real estate development\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate-development\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate_development;http:\/\/rdf.freebase.com\/ns\/m.028sdw;http:\/\/dbpedia.org\/resource\/Real_estate_development\" >developments<\/a> pop-up all over the capital it seems that both directly and in-directly residents of London will be adversely affected by rocketing rental increases. <\/span><span style=\"text-indent: 36pt;\">\u00a0<\/span><span style=\"text-indent: 36pt;\">\u00a0<\/span><span style=\"text-indent: 36pt;\">\u00a0<\/span><span style=\"text-indent: 36pt;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\">\u00a0 \u00a0\u00a0<img src=\"http:\/\/i27.photobucket.com\/albums\/c189\/frankitlhc\/photo1_zps2f1b4a57.jpg~original\" alt=\"\" align=\"none\" \/><\/p>\n<p class=\"MsoNormal\" style=\"text-indent: 36.0pt;\">by Thomas Samuel<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Affordable housing was thought to be the saviour of the working classes, keeping rent costs at a level that a living wage can sustain. However, just as fast as developers build new homes, they are coming up with new ways<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/a-new-era-is-capitalism-creating-an-unaffordable-capital\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[17],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/a_new_era-_is_capitalism_creating_an_unaffordable_capital_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/349"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=349"}],"version-history":[{"count":6,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/349\/revisions"}],"predecessor-version":[{"id":14826,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/349\/revisions\/14826"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=349"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}