As the mayors of London and Barcelona, we see an emergency coming. The way housing works must be changed
For a number of years, cities around the world have been facing increasingly global and aggressive speculation in their property markets – from speculators who see housing in our cities as an asset from which to profit, rather than homes for the people we represent.
In many cases, speculators take decisions from thousands of miles away. Yet for us their impact on the life and soul of our cities is very close to home. Our city centres risk being hollowed out as vibrant communities are displaced, local shops are closed, and the cost of housing rises exorbitantly.