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[Soaring]

Don't see London 2012 news too often here across the pond, but this was something I came across today....


Olympic housing crunch: London landlords evict tenants to gouge tourists

By Marian Smith, msnbc.com

LONDON -- Landlords in Britain's capital are evicting tenants so they can cash in on this summer's Olympic Games by charging tourists many times the usual rent.
Homes in the east London boroughs where many events are to be held are fetching between five and 15 times their typical rates as properties are rebranded as short-term "Olympic lets." Some landlords are also enforcing expensive "penalty" clauses for tenants who want to remain during the gathering of the world's top athletes.
Rent controls are almost non-existent in Britain and some Londoners told msnbc.com that the looming increase in housing costs will leave them with no choice but to leave the city for the summer.
While the Olympic Village will house some 22,000 athletes along with 6,000 coaches and officials, countless tourists, athletes' families, journalists and sponsors will be left to jostle with 7.8 million residents for places to sleep. The accommodation crunch is expected to be so severe that some residents are planning to rent out their backyards to campers during the Games – which begin July 27.
"We're [seeing] landlords beginning to evict their tenants," Antonia Bance, head of campaigns for housing charity Shelter, told msnbc.com. "Lots of letting agents are writing clauses into contracts being signed saying you can live here with the exception of this period [during the Olympics]."

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[baron-pierreIV]

It happens all time time. But the net effect is that the really greedy ones sometimes are left out in the cold.

[RobH]

Yes, a friend of mine who lives close to the Olympic Park mentioned that some landlords were looking to cash in. Luckily she's ok, but some people aren't.

I've also today heard that a new Travelodge, less than half-built and 20 miles away from central London, is already fully booked for the Games.

On the other hand, BBC London News' top story tonight was about a new study which suggests tourists numbers will drop this year because of the Games.

"Nobody goes there anymore it's too crowded"

Who knows what the real figures will be.

Same argument happening about West End Theatre bookings. Andrew Lloyd Webber said only the very biggest shows would sell whilst the Games were on and the rest would have to shut down. Yet this week we hear bookings across London theatres are up on last year for the Olympic period.

Hard to know who to believe!