Explained: Why London is full of empty, luxury homes

25,000 homes in London are currently unoccupied

In fact, there's a higher percentage of empty homes in the capital than anywhere else in the country. Together, these unoccupied homes have an estimated value of £12.2 billion. England needs three million new social homes to be built in the next 20 years to solve the 'housing crisis'. 277,000 people are homeless in England, and many have found themselves in this predicament as a result of losing a privately rented home. 80 per cent of people think they will never be able to buy a home, and seven out of 10 London renters say the stress is harming their mental health. JOE's Head of Politics Oli Dugmore explains why the situation has escalated to this point. https://www.youtube.com/watch?v=c4IwwIPel68