Well the last weeks in London have been characterized by terrible weather. A huge disappointment for London retailers when everybody went away on Holiday for Easter and of course the ever pointless Mayoral elections. My favourite little story however was how much Oyster Cards steal people’s money. It’s incredible, a po faced TFL official blamed customers inability to touch in and out correctly! But then when you start looking into it because we are so trusting we all assume even when we do ‘correctly’ touch in and out the right money will be taken. WRONG. It’s a bit of a lottery apparently. There were thousands of tweets and emails with various folks pointing out that they had random sums (almost all large) swiped from them (no pun intended) It seems you have to check your travel history. The best way is to set up an online account and then track each journey – how very convenient. But the sums erroneously taken head into the tens of millions which is staggering. System error kept cropping up from various commentators. So now we travellers must understand that the beep doesn’t mean the money we expect has been taken. It probably means some money or some amount has been taken.
So now you’ve been told.
The current dip in the housing market is being written off as spring related. But in truth apart from the mortgage companies making it virtually impossible for young Londoners to get any money from them the prices continue to rise. HUH? How does this work exactly. Every month a new ghastly London tower block – sorry – designer apartment complex pops up with a fancy marketing brochure and is apparently snapped up. By who exactly? Well it’s more bad news I’m afraid. The rental sector is now easy pickings for rich non UK-based individuals and companies who are cash rich and able to negotiate block deals. They see rental as an easy way to hide and store their money. It’s a better bet than lousy interest rate banks and savings companies. And of course it just keeps rents artificially high and secondly shuts out local people from living and buying in their own areas. So when you look at a block where a few people have paid staggering sums for some concrete and glass designer shoe box the chances are that most of the block was already purchased at a knock down rate. Building companies like the deal as they often sell ‘off plan’ ie they draw up plans – sell the idea to rich foreign backers – and then use their money to actually build their latest blight on the landscape. No one builds houses anymore. Where’s the profit? Where’s the funding going to come from.
Hm.
On a cynical but weary London note I see that the citizens of Brixton are complaining of the rampant gentrification of their area. Locals are watching as their manor is slowly overpricing itself. And pushing them out. Of course the local Council love it. They get rid of the people in the once poorer troublesome areas and their folk. They can overpriced the Council Tax as houses and flats jump into higher tax bands. My favourite comment was from one guy who went into what used to be his local café and was offered bruschetta and olives! Poor sod was looking for egg and chips but now it was very ouef a la frites at £10.95 with hand brushed Brazilian honey rolls.
Right onto happy news of a sort. It’s coming up to a bumper year of London-based events. So Londoners can effectively play night and day for many months. The Queens Jubilee is the first of many events designed to promote Great Britain PLC (a minor division of the Qatari Investment Corporation) and thousands are supposedly flocking in to see the river pageant and take part in the street parties. Then comes the biggest corporate event of the decade. The Olympic Games (four tickets available to Londoners) will spin-off into endless Corporate junkets and promotions. I mean to say the food sponsor is McDonalds! Irony or what. Who’s in charge of customer relations Robert Mugabe? But it does mean London will see some incredible sights so we have to try to take a small crumb of comfort from that. I’m told the West End theatres are dreading the time – but I think locals will go to the theatre (if prices drop below those affordable only by having the income of an oil millionaire) So lots to look forward to.
And finally on trends. We’ve seen the Sushi restaurants, the tiny dogs and the tiny car invasion. But now we have the discount card and promotion explosion. London seems to be awash with ‘offers’. Every newspaper in town now has its own loyalty reward card – and the offers brigade are growing like wildfire from Groupon, Wowcher, Taste Card, Wedge Card (this one the only genuinely decent one) But it seems our capital is full of 50% or get one buy two type offers. I’d hate to run a small business in this new half price landscape. You have to join in or get left behind it seems. My local restaurants all participate in various schemes. So now locals go in and shamefacedly push their cards and coupons across the table. But times is hard and every penny counts. And do the people need to save? Yes they blooming do. So we all hunt for bargains wherever we can. And does it make us feel awkward. Yes it does. But do we care? No not really. It’s a London thing.