Soaring student rents push college accommodation to brink of crisis
Fit this into the broader social context. Cheap housing is disappearing everywhere, being turned into luxury accommodation at luxury rents. British Universities are now courting the world market of wealthy foreign students. That is where the money is. This is the competition the locals now face, with prices being auctioned up both for education and housing against a global market place.
The cost of housing in London has also been auctioned up by wealthy foreigners buying up houses in central London as investment and tax havens, displacing the local middle class into outer suburbs where they in turn displace people on ordinary and low incomes. The conversion of former council housing into luxury apartments has been noted.
What this means is that the locals are facing price competition for housing against a world market. Funnily enough our wages are not rising to meet the competition. Strangely most of our wages have been being reduced in real terms while these huge increases in our cost of living have been going on. The process has been enabled by our governments, both British Parliament which has long since abandoned representing the people of this country and the EU, who are both committed to free markets, globalisation and the effective dissolution of national boundaries. Welcome to globalisation.