Tuesday, March 13, 2018

Bubble or froth?


A Fallen Angel? From the article cited below.
It is a scene familiar to anyone who has walked around
Newcastle and Shieldfield in the past few years


Oh, dear! The news about the wave, tidal wave even, of speculative student dwelling construction, financed by off shore investor's and others, is not good.

More here;

https://www.theguardian.com/cities/2018/mar/13/buyer-funded-development-scandal

The amount of such building in Newcastle in the last few years has been staggering. The need for social housing has not even been glanced at leave alone addressed. Instead, more and more schemes to build aspirational homes, frequently also bought by investor's continues. A salutary lesson in what happens when investment (sic) does just what it fancies.

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