Thursday, October 13, 2011
In parallel to property mega-inflation in the capital and the nationwide credit crunch, the UK housing charity Shelter confirmed today that private rental levels are officially unaffordable - as linked to a percentage of personal income - in 55% of local authorities in England. London in turn is two and a half times as expensive as the rest of England.
This rank discrimination jigsaws with perfection into the decision of the British student body to focus protest on college fees as opposed to the much greater evil of cross-generational career-destroying internship abuse and with demographic changes afoot in South East England unparalleled in Europe since the wars of the Yugoslavian succession. Arguably the most fateful, albeit unlikely, combination of social changes since VJ Day.
The toxic swamp of London now offers a hectic New York-style lifestyle without any of the fun. A regimented Teutonic work experience without any of the financial rewards of living in Germany. And now a private rental sector offering up sub-standard micro-living conditions for the price of concomitant financial insecurity for life.
At the very least I trust there are going to be some cracking good folk songs coming out of all this one day...