London Needs 1.1 Million Homes. Its 1940s Planning Rules Stand in the Way.
AI Summary
London is facing a dire housing shortage, needing 1.1 million new homes to meet demand, yet only 4,170 units are being constructed this year due to outdated 1940s planning regulations. These archaic rules are slowing down development, leading to skyrocketing rents and housing prices, which impacts everything from local businesses to the overall economy. Addressing these outdated policies could unlock a wave of new construction, offering much-needed relief to the city’s housing crisis.
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