Here, bricks are stacks of cash. “If you have capital in this country,” Alex Hilton, director of the advocacy organization Generation Rent, told me, “you can get other people’s money.”
Without capital, those of us who do not own property resign ourselves to running in an exploitative rat race. The race is rigged, of course, because some rats can never win.
With property at a premium, it’s renters who are paying full market value just to stay where they are. The average home in London costs nearly 20 times the average salary in Britain. The imperative to get a return on that capital investment is passed on to the renter.… Seguir leyendo »