Property speculators and landlords came together at the Royal Institution in London last Thursday. They discussed plans to push out the poor to make way for their profit-driven redevelopment projects.
Speakers at the invite-only event were candid about their plans for the private rental sector (PRS).
Barry Coltrini, from Essential Living, revealed, “PRS as a product is not there to solve the housing crisis. It’s there to provide a product and choice.”
Debra Yudolph, a partner at Say Property Consulting, chipped in, “It’s difficult to gentrify places without excluding the people that should remain there.”
Developers want to get into the “buy to rent” market rather than building homes and selling them on.
While development company bosses are working out how to make the fastest buck, tenants across London are fighting to keep their homes.
Naila Choudhury spoke to Socialist Worker about how she’s fighting the redevelopment of huge swathes of public land in Brent Cross, north London.
The redevelopment threatens some 217 homes, some rented, some owned. Two housing associations are set to take control of the new homes being planned.
“The council is being deliberately vague about what rights we have in terms of returning to the area,” she said, describing how residents are getting organised.