
Alex Swanson
2.2K posts

Alex Swanson
@alswanson
Cycling around London, from Cardiff 🏴🏳️🌈


London is dying. We are building less new housing than at any point since WW2. If you just look at peacetime building, it's the lowest since the Industrial Revolution. In this week's @NewStatesman, @KaneEmerson & I interrogate some of the causes of this slump, and argue that the solution may lie across the pond – where Zohran Mamdani is reforming planning laws to build much needed housing in New York City. Two trends explain the recent slump, one short term, one long term. The short term trend: 🏦 high interest rates, which make building more expensive (& make buying more expensive without increasing headline prices) 🏗️ high building costs, due to squeezed global supply chains ⚠️ a wave of building safety regulations introduced after Grenfell, such as the (ineffective) second staircase rule Economists expect interest rates & inflation to ease this year, but unless we deal with building safety, London will continue to fall short on new construction. The longer term trend: 🚧 a century of planning policy increasingly benefiting existing landowners over those struggling to rent or buy in London 🏙️ as @SCP_Hughes argues in 'the Great Downzoning', early twentieth-century urban planners were ideologically opposed to density, preferring suburban sprawl of low-rise houses with gardens. However, the most significant cause of “downzoning” was not ideology, but the self-interest of landowners, who lobbied against density to protect property values. 🏡 central government also restricted London’s horizontal expansion, with the introduction of the Green Belt. Unable to build upwards or outwards, London’s housing costs have soared. The consequences are well documented: higher rents entrench inequality, favouring existing homeowners (and their children), and locking ordinary workers out of prosperity. But does NYC's new Mayor, Zohran Mamdani, hold the answer? Read our full piece to find out: newstatesman.com/politics/uk-po…

Victoria Beckham’s song ‘Not Such an Innocent Girl’ soars to #1 on the UK iTunes chart.







Ben Shelton called on Morgan Stanley to give his sister more PTO so she can continue watching him play at Wimbledon—and they gave her the week off.




















