We’re in the midst of a global housing crisis – and MIPIM is the command centre. A motley crew of private developers, speculators, politicians and councils gathered today in West London at property show MIPIM, only to be met by graduates holding collection boxes, saying ‘Give Us Our F****ing Rent Back!’, just one of the eye catching protests for housing justice that took place across the city.
MIPIM is an exclusive marketplace where public land and property that should be used to provide truly affordable homes is secretly sold off – or even given away. With a ticket price of £500, and with many deals being done around champagne-laden dinner tables few people know exactly what is said between universities and investors. When these deals do become public the consequences are stark with private halls costing students an average of £1212 a month – more than their student loan.
With a session entitled ‘Student Housing: Coming of Age’, our efforts this year focus on the ‘financialisation’ of student housing.
It is becoming routine that people who want to get an education in the UK must accept living in poverty whilst private companies bloat their rent and rake in millions a year.
Student halls are now prime investment opportunities, with £5.2 billion invested in the sector in just the first five months of 2015. Universities are acquiescing to this – selling so much accommodation that private landlords now make up 41% of all student housing provision and, as negotiated at events like MIPIM, this number is rising.
Whilst investors profit from the land-giveaway, ordinary people are being evicted, priced out of their communities, forced to live in poverty and made to live on the streets. Here’s why we protested MIPIM and what it means for students…
1.If the dodgy deals at MIPIM continue, only the very richest students will be able to get an education:
NUS research shows that the average student halls use up 95% of a student loan, leaving students with small amounts of cash to cover all living expenses, including food, clothes, travel and books. If student housing continues to be sold off at MIPIM, the only people who will be able to survive in higher education will be the richest people who can easily access significant extra financial support.
2. MIPIM is anti-democratic and unaccountable, and it makes student housing just like it: Over half of all universities don’t consult with students when setting rents, and almost half have no policies on supporting low income students with their rent. As they sell off housing to private companies with no accountability to students, these problems only gets worse, narrowing the scope for students to have their say and leaving them shut out of decisions that can drive them into poverty.
3.MIPIM means housing is bought only to be left empty. There are nearly 60,000 empty homes in London while almost 50,000 households are homeless, relying on temporary accommodation such as B&Bs. The number of young people sleeping rough in the capital has doubled in the last five years and the number of rough sleepers as a whole is higher than ever. Squatters and council tenants with a spare bedroom face sanction – while investors are free to leave their properties empty, waiting for the price to rise.
4.Developers say they’re giving students choice, when they are forcing them into poverty: At the moment, students are left with an average of £851 a year to spend on all living expenses after rent. Private accommodation already costs more than university owned alternatives. The more halls sold to private investors at MIPIM, the less money students will have to survive.
5.MIPIM means housing is used for greed, not need. The international property fair began over 25 years ago, and now meets regularly in Cannes, Japan and London. Investors buy up public land of all stripes for developments not intended as homes, but as piggy-banks for multinational investors.
There is an alternative. The anti-MIPIM demo was organised by the Radical Housing Network and UCL Cut The Rent.
The first is a network that brings together over 30 grassroots groups to demand that housing is a right not a privilege, and to fight against social cleansing and for decent homes for all. UCL Cut The Rent are the campaign for lower rent at University College London, whose success with rent strikes this year is galvanising cut the rent campaigns with students across the country.
Today, we forced delegates to face those affected by the housing crisis they are creating.
Today’s demo is part of a housing movement that’s building across Europe, linked to The European Action Coalition for the Right to Housing and the City. Trade unionists, tenants, campaigners and students are coming together, join us to ensure no people are without homes, and no homes are without people.