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Anorak | Polly Tonybee misses the point about Kensington and Chelsea property tycoons

Polly Tonybee misses the point about Kensington and Chelsea property tycoons

by | 4th, August 2017

Polly Tonybee is writing about London property in the Guardian.

Empty property bought by investors to sit unused is a scandal the Guardian has exposed this week, finding 1,652 in the Grenfell borough of Kensington and Chelsea alone.

Why is buying expensive property a scandal? Tonybee says these “mothballed houses” ares”sitting there as gold bullion in the bank, not homes for anyone.” Are the kind of people who can afford to rent gold bullion-homes are of prime concern in the poster pats of London?

Even the prospect of collecting £10,000 a month is not enough to encourage wealthy owners to fill their vacant properties

Rich invest money to get richer. Not exactly news, is it, let alone a scandal on a par, say with blood diamonds or blowing the crap out of oil-rich Iraq? (What changes his mind?” asked Tonybee in 2003. Her question was rhetorical because she swiftly answered: “Only the barrel of a gun up his nostril.”)

She then adds this – and it’s great:

What happens at the top end of the market knocks on all down the chain – and what’s happening at the bottom is a disaster.

She’s right. And the top end is booming. If the big property developers build more, then good. No matter who buys the bricks, it’s the building of more than makes things work. The story should not be about affordable homes; it should be about more homes.

PS: Polly Tonybee knows all about foreigners buying property overseas and leaving it empty for most of the time. She owns a second home in Tuscany. It’s all that non-working-class Left-wing politics. Hold the equality and fighting the powerful, Polly’s into class guilt, the family firm and prejudice.

PPS: This from 2016: “More than 7,500 local authority properties across the capital are lying empty as thousands of Londoners struggle to find a home.”



Posted: 4th, August 2017 | In: Broadsheets, Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink