Thursday, March 27, 2014

Prince Charles and the London Housing Crisis


The Prince of Wales speaking at Buckingham Palace late last year


     As heir to the throne for over sixty years, Prince Charles has sought to be more than a “presence” as suggested by President Richard Nixon in 1970.

     The result is that he as used his position and influence to speak out on issues that are important to him, and has made interventions into public matters like housing and sustainability.

     Yesterday was no different as the Prince of Wales made an impassioned call for more homes to be built in London to help solve the city’s housing crisis. His remarks were made in a speech made upon the release of Housing London: A Mid-Rise Solution, a publication furnished by the Prince’s Foundation for Building Community.

     The Prince warned that rocketing house prices and rents threatened to drive a generation of young people away of the United Kingdom’s capital city at the same time that it has other attributes going for it, such as employment opportunities not found elsewhere. Recently-released official figures showed that the average price for a house in London is £458,000, an increase of 13% in just one year, making it virtually impossible for a young individual to make a substantial down payment (or deposit) on a home in the hope of making affordable mortgage payments over their lifetime.

     On the rental front, the story is not much better. Many of the new rental units that are being built are found in high-rise towers which only the wealthiest individuals can obtain, and much of them are used for investment and not living purposes by foreign nationals. This means that some homes and apartments are unoccupied for long periods of time, whilst the housing market continues a relentless upward trend as people with means continue to buy.

     All of this makes for an unsustainable situation in which most young people are priced out the market, and the ones that can get in often have to spend a majority of their income on rent, leaving few resources to do other activities.

     Prince Charles and his foundation have suggested that the developers should not just build more affordable housing, but that they also ought to move away from building high-rises to building “mid-rises” – buildings about six to eight stories tall and in the character of Georgian manor blocks of the 18th and 19th centuries.

     The report also calls for developments to be of a mixed variety – with private, shared, and public housing built in the same place and around cultural institutions and squares to achieve greater cohesion and a sense of community and belonging amongst the inhabitants. Such communities should also be “walkable” and have public transportation available to achieve what the Prince of Wales has called the “built environment.”

     Inevitably, there will be some republicans who will criticize the Prince for wading into political issue about which he knows nothing.

     However, as with the case of his mother making remarks about the plight of the poor, Charles was simply stating the obvious with regard to the need for affordable housing in London. One cannot read a newspaper in the UK without some mention of the housing shortage, which is indeed a crisis as London and the rest of country continue to grow. The problem is exasperated by wealthy individuals – many of them foreigners – who buy property as investment vehicles, which sends home prices up even further and deprives Londoners of critical housing.

     The city cannot become the exclusive playground and stopover point for the wealthiest individuals in the world. As the capital of the United Kingdom, it ought to be a place where people from throughout the country can live, regardless of their resources – financial or otherwise.

     Prince Charles’s ideas for attempting to rectify this problem are helpful, in my opinion. They make a case for building more housing on a more human scale with the aim of bringing people and communities together. This chimes in with the views of many Londoners who like the new tall towers, but would not want to live in them.

     And with all of the glass towers being thrown up across London, having new buildings in more traditional architectural styles would inject some flavor into the city bringing back some of the scenery for which it has been known. Indeed, the report calls for “more London” in terms of style.

     If these ideas can provide the impetus for public action to achieve affordable and sustainable housing, as well as creating vital communities, then the Prince’s intervention will be a good thing. If anything, it is the fact that he is divorced from the day to day governance of the country – and therefore above the political fray – that gives him the credibility to speak out on such issues, since he is not serving “special interests” or partisan political constituencies. It is better that he use his position to highlight issues and provide solutions on which government can – if it wishes – act.

     One thing for sure, as heir to the throne, he has not been a mere “presence.”

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