The truth about property developers and how they are exploiting planning authorities and ruining our cities - Sept 2014 The Guardian
“When I arrived in the job in the 1980s, the big banks were in control of London,” he says. “But now it’s the big house-builders. We’ve gone from being ruled by Barclay’s bank to being controlled by Berkeley homes.”Left unchecked, the banks went off the rails in spectacular fashion, as they sprayed money into the great mortgage mirage. And now property developers have been allowed to follow suit. Fuelled by the dazzling wealth of investors from Russia, China and the Middle East, who they turned to when the banks stopped lending, their steroidal schemes are causing irreparable harm to our cities. Authorities are allowing planning policies to be continually flouted, affordable housing quotas to be waived, height limits breached, the interests of residents endlessly trampled.