MoonGlad that was helpful
Yes, the first question we all had in our heads when the article came out was "who owns the stuff". As I say, many blocks of flats in London are now rental only. Approach the owner of the block and ask if you can be an investor - the answer is no because it's owned by a corp, or a venture capitalist, or a private equity firm.
In my previous flat in North London, the offices opposite were converted into flats. Renters in my block approached them to see if they could buy - after all, it's their area, their support network is there.
Answer is no - all flats purchased by investors abroad, mostly at a big property expo in one country.
I think the hope with a lot of these promos is that idealists won't ask who makes a profit.
Understanding is spreading. My sister couldn't understand why I was concerned about the end of cash a few years back. She never carried it. Now she does.
It does annoy me a lot that the things that made people call me a conspiracy theorist a few years ago are now legit concerns among the same people, but do I ever hear "sorry I called you a CT". Nope.
So I might seem like I'm sniggering or snarky on these threads but it is all very "don't say we didn't warn you". This has been in development for years. There was some reporting about disappearing middle classes in the 2010s - we're all going to be rich or poor.
luckily, at school, the book we had on the Wall Street Crash of 1929 said "there is no game in the world in which everyone loses". So I learned about disaster capitalism then, there's nothing new really.
the recent interest rate hikes - anyone looking at the finance of the situation in 2020 knew they were coming and planned their spending accordingly. I am sympathetic to those facing massive mortgage hikes of course, I just wish there had been more awareness of all this.