Rewind to late autumn 2014.
Residents on the New
Era estate fear they will be evicted from their homes before Christmas, writes Paul Coleman.
A rich and powerful American
property company now owns their east London estate – and apparently plans to
raise rents to unaffordable levels.
The company wants to
turn these 1930s-built homes into luxury rented apartments.
“I don’t know how these
investment people were allowed to do it,” says resident Nell Hammond, whose
husband Terry suffered a recent stroke.
“They want to destroy
this community.
We thought we were
going to die here.
But we might die here
before this is all over because we can’t take all this worry.”
Resisted
But
the New Era tenants fight back and during November and December run a determined,
high profile campaign.
Surprising
themselves, they win – just a few days shy of Christmas.
There
will be no rent rises in 2015.
No
evictions.
Immediately, some commentators
hail the New Era residents’ victory as momentous.
A sign that the London-wide
decanting, dispossession and displacement of generations of born and bred Londoners
can be successfully resisted.
And, that rent levels can
be set on the basis of Londoners’ incomes rather than on London’s rocketing
property values.
Descending
It also shows global
investors don’t like campaigns against them.
Share values are
vulnerable to protest.
Global capital sloshing
around the world runs shy from bad publicity.
Flees insurrection.
So, the campaign by New
Era residents points to a possibility that the avalanche of profit-seeking
global capital - descending so destructively on Londoners’ family lives – can
be halted.
Or, at least, scared
away.
Global capital, in
flight.
But taking fright when
confronted by tenacious New Era residents.
The full version of The New Era at Christmas can be seen at
http://www.londonintelligence.co.uk/new-era-hoxton/
http://www.londonintelligence.co.uk/new-era-hoxton/
© Paul Coleman, London Intelligence, December 2014
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