Transcript: The Home Show | Mar 31, 2020

(music plays)

Hamish Macdonald spreads avocado on a slice of bread in an modern kitchen. He is in his late thirties, clean-shaven with blond hair. He wears a white shirt and black trousers.

A caption reads "Avocado: 1.90. Loaf of bread: 3.50."

Hamish says SO THE ARGUMENT GOES THAT
YOUNG AUSSIES ARE SPENDING WAY
TOO MUCH MONEY ON EXPENSIVE
AVOCADO ON TOAST, AND THAT'S WHY
WE CAN'T AFFORD TO BUY A HOUSE.
BUT IN TRUTH, WE ALL KNOW IT IS
MUCH MORE COMPLICATED THAN THAT.

The caption changes to "Reporter's pay not enough to buy this house. This suburb median rental price 680 week."

He continues WHETHER YOU'RE YOUNG OR OLD,
RETIRED OR WORKING, BORROWING
FOR THE FIRST TIME OR ALREADY UP
TO YOUR EARS IN DEBT, THAT OLD
AUSTRALIAN DREAM OF OWNING YOUR
OWN HOME NOW SEEMS HARDER TO
ACHIEVE THAN EVER.

He walks out of the house into the street, where people are queuing.

He continues DON'T EVEN BOTHER TURNING UP
HERE UNLESS YOU'VE GOT A COUPLE
OF SPARE MILLION RATTLING AROUND
IN YOUR POCKET.
BUT THE POINT IS, AUSTRALIA IS
NOT ALONE, WE'RE NOW PART OF A
GLOBAL PHENOMENON WHERE HOUSING
AFFORDABILITY IS REACHING A
CRISIS POINT.
SO TONIGHT, WE'RE TAKING YOU ON
A JOURNEY-- A GLOBAL JOURNEY IN
SEARCH OF SOME SOLUTIONS.

The caption changes to "Average Aussie house price: 656,800."

(theme music plays)

An animation shows a model of cities like London, New York and Sydney with their key monuments highlighted in red. The title of the show appears in the middle. It reads "The Home Show. A Foreign Correspondent Special."

(soft music plays)

Hamish says WE ALL KNOW THERE'S A PROBLEM.
WHAT WE CAN'T AGREE ON IS
EXACTLY WHAT CAUSES IT, OR HOW
TO FIX IT.

A man wearing a suit says THERE'S NO SILVER BULLET.

Hamish says TONIGHT, HOPEFULLY SOME
ANSWERS FROM AROUND THE WORLD.

The man wearing a suit says THERE ISN'T A SIMPLE FIX.

Hamish says HOW ARE PEOPLE OVERSEAS
CONFRONTING THE CHALLENGE OF
HOUSING AFFORDABILITY?

The man wearing a suit says AND THERE ISN'T A QUICK FIX,
EITHER.

Hamish says OKAY, OKAY, WE GET IT.

The man wearing a suit says THERE'S NO MAGIC ANSWER WHICH
WILL FIX EVERYTHING.

Portraits of male politicians appear in the animated model with light bulbs lighting up.

Hamish says TONIGHT, WE ASK "DO AUSSIE
POLITICIANS REALLY HAVE ALL THE
IDEAS, OR ARE THERE BIGGER,
BOLDER OPTIONS OUT THERE?"

A man wearing a big winter jacket says FORGET THE POLITICIANS,
FORGET THEM!

Hamish says WE'RE LINING UP SOME
SURPRISING SOLUTIONS FROM THE
BIG APPLE.

A woman guiding a dancing group says RIGHT, LEFT!
RIGHT!

Hamish says PATROLLING THE BEAT WITH
BARCELONA'S PROPERTY COPS.

A young woman knocks on a door.

Hamish says AND IN BRITAIN, WE'LL EXPLORE A
PROPERTY MARKET WITH SOME REAL
BITE.

Hamish approaches a boat and a dog barks at him.

Hamish says FROM THE JAPANESE TO THOSE
CLEVER SCANDINAVIANS, WE'LL
LOOK TO THE FUTURE OF HOUSING
AND ASK "CAN WE AFFORD IT?"
AND I PROMISE, LIVING IN A
FLOATING SHIPPING CONTAINER
PROBABLY ISN'T AS BAD AS YOU
THINK.

The man with the big winter jacket says IT'S ONE OF THE SOLUTIONS,
IT'S NOT THE SOLUTION.

Hamish says THE WORLD'S MEGA CITIES ARE
GROWING.
THE RACE TO BUY PROPERTY IN
THEM IS FIERCE, AND IF YOU
THINK YOU DON'T GET MUCH FOR
YOUR MONEY IN AUSTRALIAN
PROPERTY, WELL, WE'RE ABOUT TO
VISIT A PLACE THAT MIGHT PUT
THINGS IN PERSPECTIVE.

The caption changes to "Hamish Macdonald."

Hamish continues ADVERTISED AS "THE SMALLEST
HOUSE IN LONDON," IT'S REAL
ESTATE SPEAK FOR SURE.
BUT 20 BRITAIN STREET AIN'T
BIG.

Hamish knocks on a black door and says ROBIN?

Robin is in his sixties, clean-shaven with receding hair. He wears a white shirt under a black jacket.

Robin says HI, HAMISH, HOW ARE YOU?

Hamish says VERY NICE TO MEET YOU.
SO THIS IS IT?

Robin says THIS IS IT, THIS IS MY LITTLE
CLOAK HOLE.

Hamish says YEAH, IT'S NOT A LOT MORE
THAN THAT.

Hamish chuckles.

Robin says YEAH, SHOULDN'T TAKE TOO LONG
TO LOOK AROUND.

Hamish says THANK YOU.
FOR 26 SQUARE METRES, ROBIN
SWAILES FORKED OUT 700,000
POUNDS.
THAT'S A LITTLE OVER 1.2
MILLION AUSSIE.

Robin says WE PAID ABOUT TWO POUND FIFTY
PER SQUARE CENTIMETRE.

Hamish says SO FOR...

Robin says FOR, YEAH, A SQUARE
CENTIMETRE, TWO POUND FIFTY.
ABOUT THAT, YEAH, THERE'S THAT.

Robin represents the measure with his fingers and Hamish chuckles.

Hamish says FOR THIS SPACE, WHAT HAVE
YOU-- WHAT HAVE YOU PAID?

Robin says WELL, I THINK THIS SHOWER
ROOM ALONE IS 60,000 AUSSIE
DOLLARS.

Hamish says RIGHT, WOW.

Robin says YEAH, IT'S FRIGHTENING, ISN'T
IT?

Hamish says DON'T WORRY, THOUGH, IT'S NOT
A TOTAL RIP OFF, THERE'S AN
UPSTAIRS.
YOU SORT OF HAVE TO BREATHE IN
TO GET UP HERE.

They go upstairs and look out a window.

Hamish says IT'S A NICE VIEW, FOR A SMALL
PLACE IT'S GOT A BIG VIEW.

Robin says IT IS KIND OF TINY, BUT IT'S
LOVELY.

Hamish says YOU LIKE SMALL HOUSES, YOU'RE
KIND OF OBSESSED WITH THEM?

Robin says YEAH, I LIKE THE MANAGEMENT
OF SPACE, I LIKE DOING REALLY
CLEVER THINGS IN SMALL SPACES.

Hamish says LOVELY AS THE VIEW HERE IS,
IT'S EXPENSIVE.
PEOPLE WORKING IN THE KEY
SECTORS CAN'T AFFORD TO RENT,
AND CAN'T GET THE DEPOSIT
TOGETHER TO BUY.
THEY'RE BEING PRICED OUT OF
LONDON.

A jazz band plays in the street.

Hamish says HOME TO ALMOST 8.7 MILLION
PEOPLE, 300 DIFFERENT LANGUAGES
ARE SPOKEN IN LOCAL SCHOOLS
HERE.
THIS IS THE VERY DEFINITION OF
A GLOBAL CITY.
AND HERE IN THE EAST END,
THINGS ARE CHANGING.
ONCE-WORKING CLASS SUBURBS ARE
NOW POPULATED BY HIPSTERS AND
HIGH INCOME FAMILIES.
THESE DAYS, MOST ORDINARY
LONDONERS DON'T HAVE A HOPE OF
BUYING INTO THE PLACES YOU'D
FIND ON THE OLD MONOPOLY BOARD.
THEY'RE BEING PUSHED FURTHER
OUT OF THE CENTRE.
AND FOR MANY, THE SITUATION IS
SO DESPERATE, THEY'RE BEING
PUSHED OFF DRY LAND ALL
TOGETHER.
CANAL BOAT LIVING HAS MORE THAN
DOUBLED IN LONDON IN THE PAST
FIVE YEARS, SO I'M ON MY WAY TO
MEET MILA, AND HER CHARMING PET
DOBERMAN.
HELLO, MILA?

(barking)

Mila bends to clean an engine. She is in her late thirties, with blond hair in a short ponytail. She wears glasses, a lip piercing, a black jacket and patterned tights.

Mila says OH LA LA, WORKS LIKE MAGIC!

Hamish says TODAY IS A CLEANING DAY ON
DECK.
MILA ONLY RECENTLY MOVED ONTO
THE CANAL.

Mila says HM, ABOUT A MONTH, MONTH AND
A HALF.
SO EVERYTHING IS A BIT OF A
CHAOS.
OH, YES, GUYS, IT'S WORKING.

Hamish says THE ENGINE BAY NEEDS CLEANING
OUT.

Mila says MY DAD WAS AN ENGINEER.
IT'S REALLY DIRTY AND YOU WANT
TO GET IT OUT, BUT YOU DON'T
WANT TO GET IT IN THE RIVER, SO
YOU USE THE BOTTLE AND THE
BUCKET.

Hamish says LIFE ON THE WATER DOES TAKE
SOME ADJUSTMENT, BUT IT HAS ITS
ADVANTAGES.

Mila says IF YOU REALLY HATE YOUR
NEIGHBOUR, YOU DON'T HAVE TO
COMPLAIN.
YOU JUST GO.

Hamish says CANAL BOATING IS MORE A
SYMPTOM OF LONDON'S HOUSING
CRISIS THAN A SOLUTION.
MOST NEED TO MOVE MOORINGS
EVERY FORTNIGHT, BUT COMPARED
WITH ESCALATING RENTAL COSTS,
THE PRICE HERE IS RIGHT.

Mila says UH, A GRAND AND A HALF.

Hamish says OH, WOW, THAT'S
REALLY CHEAP.

Mila says IT'S THE SAME SIZE AS THAT
ONE, AND THAT'S 26.

Hamish says THAT'S A BARGAIN!

Mila says I KNOW!

Hamish says THAT'S CHEAPER THAN A
FLAT DOWN THE ROAD.

Hamish chuckles.

Mila says FOR A MONTH, AND I'VE GOT IT
FOR LIFE.
HEY, CAN'T BEAT THAT.

Hamish says MUCH LIKE IN AUSTRALIA,
PEOPLE IN THIS CITY ARE GIVING
UP ON HOME OWNERSHIP.
THE CANAL BOATS OFFER AN
ALTERNATIVE.

Mila says IT'S MARVELLOUS, I'M A
PROPERTY OWNER.

Hamish says FIRST TIME?

Mila says FIRST TIME IN MY LIFE.

Hamish says AND HOW DOES THAT FEEL?

Mila says AMAZING.
LITTLE BIT SCARY, I'M TURNING
INTO A POSH PERSON NOW.

(laughing)

Hamish says SO JUST HOW BIG IS THE
PROBLEM HERE, AND HOW ARE THEY
TRYING TO SOLVE IT?
INTERESTINGLY, LABOUR-
CONTROLLED LONDON AND THE
CONSERVATIVE NATIONAL
GOVERNMENT ARE WORKING TOGETHER
TO FIND AND FUND SOLUTIONS.
I'M GOING TO CITY HALL, THE
BEEHIVE, AS IT'S KNOWN.
OR AS ONE MAYOR CALLED IT, "THE
GLASS GONAD."
JAMES MURRAY IS THE MAN
RESPONSIBLE.
3.1 BILLION POUNDS HAS BEEN
PLEDGED-- THAT'S AROUND 5.2
BILLION AUSTRALIAN DOLLARS.
BY 2021, THEY'LL HAVE STARTED
BUILDING 90,000 NEW AFFORDABLE
HOMES IN THIS CITY ALONE.
IS THERE A SIMPLE FIX?

James Murray is in his mid-thirties, clean-shaven with dark hair. He wears a black suit, a white shirt and a purple tie.

In a bridge, James says NO, AND I THINK THAT'S THE
ONE THING EVERYONE AGREES ON.
THERE ISN'T A SIMPLE FIX, AND
THERE ISN'T A QUICK FIX, EITHER.
THERE'S NO SILVER BULLET, AND
THERE'S NOTHING THAT'S GOING TO
FIX THE HOUSING CRISIS
OVERNIGHT.
AND WHAT WE NEED TO DO IS START
MOVING IN A BETTER DIRECTION.
WE NEED TO TURN THE SHIP AROUND
AND START POINTING IN A BETTER
DIRECTION.

Hamish says AND THAT OF COURSE MEANS
BOOSTING SUPPLY.

James says THE ONLY SOLUTION TO LONDON'S
HOUSING CRISIS IS BUILDING A LOT
MORE HOMES.
WHEN WE SAY BUILDING MORE HOMES
IS IMPORTANT, NOT ONLY DO WE
MEAN THE OVERALL NUMBER IS
IMPORTANT, BUT IN ORDER TO GET
TO THAT NUMBER, WE NEED TO BUILD
ALL SORTS OF DIFFERENT HOMES.
AND THAT MEANS YOU CAN HAVE BIG
HOME BUILDERS, SMALL HOME
BUILDERS, INSTITUTIONAL
INVESTORS, MARKET LEVEL
AFFORDABLE HOUSING, BUYING,
RENTING... EVERYTHING NEEDS TO
COME ON STREAM.

Hamish says SUPPLY IS THE CATCH CRY FOR
AUSTRALIA'S GOVERNMENT, TOO.

James says THERE'S A HUGE AMOUNT OF
CAPACITY IN EAST LONDON TO BUILD
OUT THERE.

Hamish says NEW RULES IN LONDON MEAN THAT
IF A DEVELOPER MEETS A TARGET
OF 35 percent AFFORDABLE HOUSING
WITHIN A NEW DEVELOPMENT, THEY
ARE PROMISED A FAST-TRACK
APPROVAL PROCESS.
LONDON GETS MORE NEW HOMES
QUICKLY, AND DEVELOPERS GET
LESS RED TAPE.
HOUSING IS A HUGE PROBLEM AND A
HUGE POLITICAL ISSUE HERE TOO.
WHAT DOES STAND OUT THOUGH IS
THAT AT LOCAL AND NATIONAL
LEVEL, THERE IS AT LEAST SOME
COLLABORATION ACROSS PARTY
LINES.
IS THAT NEEDED, THOUGH?
SOME DEGREE OF CONSENSUS IN
ORDER TO FIX THIS HOUSING
PROBLEM?

James says I THINK YOU NEED CONSENSUS
AND STABILITY TO HELP TRY AND
FIX THE HOUSING CRISIS.
I THINK WHEN YOU TALK TO THE
DEVELOPMENT INDUSTRY, WHAT THEY
CRAVE IS STABILITY AND
CERTAINTY TO TRY AND MAKE LONG
TERM GOALS.

Hamish says AUSTRALIA, LIKE MUCH OF THE
WORLD, IS GRAPPLING WITH THIS
ISSUE, SO WHAT EXACTLY DOES
HOUSING AFFORDABILITY MEAN?
IN OUR TWO BIGGEST CITIES,
PRICES JUMPED AS MUCH AS 19 percent IN
THE LAST YEAR ALONE.
WE EARN NEARLY TEN TIMES MORE
THAN WE DID 40 YEARS AGO, BUT
HOUSE PRICES ARE NOW NEARLY 30
TIMES HIGHER THAN THEY WERE
BACK THEN.
ECONOMISTS, THOUGH, ARE DIVIDED
ON WHETHER SOARING PRICES ARE
THE PROBLEM, OR INTEREST RATES.
BACK IN 1990, INTEREST RATES
WERE 17 percent COMPARED TO JUST OVER
4 percent NOW.
WHICH MAKES IT MUCH CHEAPER FOR
US TO SERVICE THAT DEBT
CURRENTLY.

Animated graphs and diagrams show the data mentioned.

He continues THAT IS, OF COURSE, UNTIL
INTEREST RATES GO UP.
THE COST OF HOUSING IS AN ISSUE
IN MANY COUNTRIES, BUT
AUSTRALIA IS A STANDOUT.
WE'VE OVERTAKEN BRITAIN,
AMERICA, CANADA, AND MOST OF
EUROPE IN A RACE TO THE BOTTOM
ON AFFORDABLE HOUSING.
IN LONDON, JUST LIKE IN
AUSTRALIA, OFTEN THE BIG
CHALLENGE IS GETTING A DEPOSIT
TOGETHER.

Alex says IT FELT LIKE EVERY
TIME I GOT TO A POINT WHERE I'M
"MAYBE JUST ANOTHER FEW MONTHS
AND I'LL BE ABLE TO DO IT," THE
PRICES WENT UP.
AND IT KEPT GOING FURTHER AND
FURTHER.

Alex Bell takes the subway. She has shoulder-length blond hair and bangs. She wears a black jacket with white details.

Hamish says ALEX BELL IS 32.
SHE MOVED HERE FROM AUSTRALIA
JUST OVER A DECADE AGO.
SHE'S A QUALIFIED ACCOUNTANT,
WORKS IN A HEDGE FUND, AND
EARNS A DECENT ABOVE AVERAGE
WAGE.
AND SAVES.
EVEN STILL, BUYING WASN'T EASY.

Alex says YOU'VE GOT TO BE ABLE
TO GET A DEPOSIT TOGETHER, AND
THIS IS WHILE YOU'RE ALSO PAYING
RENT, WHICH-- RENT IS EXPENSIVE.
IT'S GETTING MORE AND MORE
EXPENSIVE.

(doorbell ringing)
Now, she opens the door of her apartment.
Alex says HEY!

Hamish says HI, ALEX, HOW ARE YOU DOING?

Alex says GOOD, HOW ARE YOU?

Hamish says NICE TO SEE YOU.

Alex says COME IN.

Hamish says THANK YOU VERY MUCH, I'M VERY
EXCITED ABOUT SEEING YOUR PLACE.
ALEX DIDN'T HAVE ENOUGH DEPOSIT
TO PURCHASE THIS HOME OUTRIGHT,
BUT SHE MANAGED TO BUY IT
ANYWAY, USING A FINANCIAL
STRUCTURE YOU WON'T FIND IN
AUSTRALIA.

Alex says SO THIS IS THE KITCHEN.

Hamish says RIGHT.

Alex says AND LIVING ROOM.

Hamish says THIS IS PRETTY BIG.

Alex says IT'S VERY BIG.

Hamish says IT'S BIG FOR A LONDON FLAT.

Alex says IT'S VERY BIG FOR A LONDON
FLAT, ACTUALLY-- I LOVE IT.
I LOVE THE AREA.

The kitchen has white modern furniture and a wooden floor.

Hamish says IT'S CALLED "SHARED
OWNERSHIP."
ALEX HAD ENOUGH DEPOSIT TO BUY
60 percent OF THIS FLAT.
THE HOUSING ASSOCIATION,
EFFECTIVELY, A NOT-FOR-PROFIT
DEVELOPER, OFTEN WITH
GOVERNMENT SUBSIDIES, RETAINED
OWNERSHIP OF THE REMAINING 40 percent,
WHICH ALEX THEN RENTED FROM
THEM AT A DISCOUNTED RATE.
INITIALLY, THE MORTGAGE WAS 800
POUNDS A MONTH.
THE RENT, 400 POUNDS A MONTH
WITH A SERVICE CHARGE ON TOP.

Alex says ALL GOOD?
IF YOU LOOK AT A TWO BEDROOM IN
THIS AREA AND YOU THINK ABOUT
WHAT YOU WOULD BE PAYING ON RENT
FOR THAT ALONE, IT'S JUST A NO
BRAINER THAT YOU WOULD WANT TO
LIVE IN A NICE HOME, YOU KNOW,
WITH LOTS OF SPACE, THAT'S ALL
MINE.

Hamish says THAT WAS FOR THE FIRST THREE
YEARS, BUT BRIXTON PRICES HAVE
GONE UP, AND SO TOO THE VALUE
OF ALEX'S SHARE.
WHICH MEANS THE BANK LET HER
BORROW MORE TO BUY OUTRIGHT.

Alex says IT'S WORKED OUT VERY WELL FOR
ME, AND IF YOU THINK THAT IF I
HADN'T DONE THAT, YOU KNOW, I
WOULD HAVE MISSED OUT ON THE 30 percent
GROWTH ON THE EQUITY I DID OWN,
AND THAT'S HELPED ME BUY THE
REST OF IT.

Hamish says SHARED OWNERSHIP HAS ITS
CRITICS, TOO.
AND IT COMES WITH STRINGS
ATTACHED, INCLUDING A SALARY
CAP TO QUALIFY.
BUT IT DOES DEAL WITH AN ACUTE
ISSUE FOR YOUNG PEOPLE, GETTING
ENOUGH DEPOSIT TOGETHER WHILE
PRICES CONTINUE RISING.
IT'S MEANT ALEX HAS DONE
SOMETHING MOST OF HER FRIENDS
HAVEN'T YET MANAGED.

Alex says I WOULD SAY, YOU KNOW, I'M
THE ONLY WHO IS ON IT, BECAUSE...
MAYBE BECAUSE OF MY ACCOUNTANCY
BACKGROUND, I'VE ALWAYS BEEN
VERY FOCUSED ON SAVING.
AND I'VE ALSO BEEN...

Hamish says SO YOU'RE A PENNY
PINCHER?

Alex says YEAH, I AM!
I AM, I LIKE TO CALL IT "FRUGAL."
RATHER THAN "TIGHT."
I DON'T KNOW HOW ANYONE ELSE
WOULD DO IT WITHOUT HELP FROM
FAMILY OR, YOU KNOW, BEING AS
FRUGAL AS I AM, SO...

Hamish says WOULD YOU BE ANNOYING AT THE
PUB?

Alex says I ALWAYS GET THE ROUNDS IN.
TOO MUCH, ACTUALLY!
I'LL SHOW YOU MY RECEIPTS.

Hamish laughs.

Hamish says SO WHAT EXACTLY DRIVES PRICES
UP IN AUSTRALIA?
FOR MANY, NEGATIVE GEARING IS
THE CHIEF CULPRIT, THE TAX
INCENTIVE OFFERED TO PROPERTY
INVESTORS.
IF THEY PAY MORE ON THE LOAN
THAN THEY GET IN RENT, THE
DIFFERENCE IS TAKEN OFF THEIR
INCOME, SO THEY PAY LESS TAX.
THIS MEANS THAT MANY YOUNG
AUSTRALIANS ARE COMPETING AND
OFTEN LOSING AGAINST THESE
CASHED-UP INVESTORS WHEN THEY
TRY TO BUY THEIR FIRST
PROPERTY.
BUT OTHER COUNTRIES WITHOUT
NEGATIVE GEARING, LIKE THE UK,
ALSO HAVE HOUSING AFFORDABILITY
PROBLEMS.
SO THE FEDERAL GOVERNMENT
SAYS THIS ISN'T ACTUALLY TO BLAME.
INSTEAD, THEY RECKON IT'S
SUPPLY.
WE SHOULD JUST BUILD MORE
HOUSING.
LOTS OF NEW PROPERTIES TO FLOOD
THE MARKET, EASE DEMAND, AND
PUT A LID ON PRICE GROWTH.
REALISTICALLY, THERE ARE OTHER
FACTORS TOO, LIKE THE DISCOUNTS
OFFERED ON CAPITAL GAINS TAX.
THERE'S FOREIGN INVESTMENT AND
DEMOGRAPHIC TRENDS.
ALL OF WHICH MEANS THERE IS NO
SIMPLE SOLUTION.
BUT IF SUPPLY IS THE BIG THING,
HOW DOES THAT WORK IN PRACTICE?

Rachel Mealey crosses a crowded street. She is in her thirties, with shoulder length brown hair. She wears a black jacket over a black and white checked shirt and blue jeans.

Rachel says JAPAN'S CAPITAL TOKYO
IS A CITY OF EXTREMES.
BUT EXTREME HOUSE PRICES IS ONE
THING IT DOESN'T HAVE.

Robin Harding is in his mid-thirties, clean-shaven with light brown hair. He wears glasses, an open-necked light pink shirt and a gray jacket.

Harding says THERE'S A CONSTANT SUPPLY OF
HOUSING IN THE CENTRE OF TOKYO,
AND IT EXPANDS EVERY YEAR.
IN FACT, THERE'S MORE HOUSING
STARTS IN THE CITY OF TOKYO IN
THE AVERAGE YEAR THAN THERE ARE
IN THE ENTIRE COUNTRY OF
ENGLAND.

Rachel says ROBIN HARDING IS A FORMER
BANKER TURNED JOURNALIST.
HE'S LIVED HERE FOR 15 YEARS.
TOKYO REAL ESTATE IS ONE OF HIS
PET SUBJECTS.

Harding says TOKYO IS A GREAT EXAMPLE OF A
CITY WHERE PEOPLE ARE ALLOWED TO
BUILD.

A fast-motion clip shows cranes working in a port.

Rachel says WHEN THE '80S PROPERTY BUBBLE
BURST IN JAPAN, MAJOR BANKS
WERE LEFT HOLDING BAD DEBT, AND
DEVELOPERS HAD UNWANTED OFFICE
BUILDINGS.
SO THE GOVERNMENT EASED
PLANNING REGULATIONS IN
COMMERCIAL DISTRICTS TO ALLOW
THE LAND TO BE USED FOR ANY
PURPOSE, AND THE RESULT WAS A
STEADY SUPPLY OF NEW HOMES.

(Japanese pop music plays)

Harding says THE NATURE OF THE JAPANESE
SYSTEM MEANS THAT EACH PLOT OF
LAND IS TREATED JUST LIKE THAT.
IT'S A PLOT OF LAND.
THERE'S NO PLANNING,
NO ONE SAYS "THIS STREET SHOULD LOOK LIKE
"THIS, AND ALL THE HOUSES SHOULD
"HAVE THIS KIND OF WINDOWS, AND
"THEY SHOULD BE THIS HIGH,"
WHICH IS WHAT YOU GET IN LONDON.

Rachel says WHILE THE REST OF JAPAN'S
POPULATION IS DECLINING, TOKYO
IS BUCKING THE TREND.
THE CITY IS NOW NUDGING 35
MILLION.
BUT DESPITE THIS GROWTH, THERE
HASN'T BEEN THE UPWARD PRESSURE
ON PRICES EXPERIENCED BY OTHER
BIG CITIES.

Harding says TOKYO IS THE BIGGEST, ONE OF
THE MOST DENSELY POPULATED
CITIES ON EARTH, SO IT'S NOT
CHEAP, IT'S NEVER GOING TO BE
CHEAP, THERE'S A LIMITED AMOUNT
OF LAND FOR 35 MILLION PEOPLE.
WHAT YOU HAVEN'T SEEN IN THE
LAST 20 OR 30 YEARS IS ANY OF
THE PRICE INCREASES THAT YOU'VE
SEEN IN CITIES LIKE SAN
FRANCISCO, IN LONDON, IN SYDNEY,
WHERE SUPPLY IS MUCH MORE
CONSTRAINED.
SO PERSONALLY I THINK THERE'S
VERY LITTLE DOUBT THAT THE
HIGHER SUPPLY IN TOKYO HAS KEPT
THE LID ON PRICES.

Fast clips show various types of urban dwellings.

Rachel says THIS STREET IS A GOOD EXAMPLE
OF THE SOMETIMES CRAZY MIX OF
BUILDINGS YOU CAN FIND ON ANY
ONE STREET.
WE'VE GOT SOME APARTMENT BLOCKS.
NEXT TO THAT IS A FAMILY HOME.
NEXT TO THAT IS A BUILDING
SOMEONE HAS DECIDED TO PAINT
PINK, AND NEXT TO THAT IS A
CASTLE.
SOME AUSSIES MIGHT SEE THEIR
HOME AS THEIR CASTLE, BUT IN
JAPAN, THERE ISN'T AN EMPHASIS
ON OWNING AT ALL COSTS.

Harding says THEY DON'T FEEL THIS
PRESSURE.
IT'S REALLY THAT PRESSURE YOU
FEEL IN A CITY LIKE LONDON OR
SYDNEY, "I MUST BUY NOW OR MY
LIFE WILL BE BLIGHTED."
YOU JUST DON'T GET THAT.
HOUSE PRICES ARE NOT A SUBJECT
OF DINNER TABLE CONVERSATION IN
TOKYO, 'CAUSE THEY JUST DON'T
CHANGE VERY MUCH.
UM, I THINK THAT'S GREAT.

Rachel says WHAT DO PEOPLE TALK
ABOUT IF THEY DON'T TALK ABOUT
THE PROPERTY PRICES?

Harding says NORTH KOREA.

Rachel chuckles.

Hamish says STILL TO COME
TONIGHT, A COUNTRY WHERE THEY
DO THINGS VERY DIFFERENTLY.

The man wearing a big winter jacket says THIS IS A 25 SQUARE METRE
STUDENT APARTMENT WITH A SEA
VIEW.

Hamish says WHERE THERE ARE MORE BIKES
THAN CARS AND SOME VERY BIG
IDEAS.
ONE OF THE BIG QUESTIONS ABOUT
HOUSING AFFORDABILITY IS WHO IS
RESPONSIBLE FOR FIXING IT.
IS IT GOVERNMENT, IS IT
DEVELOPERS?
THIS IS A POCKET HOUSE IN
CENTRAL LONDON.
BASICALLY IT'S AIMED AT YOUNG
PEOPLE WHO FALL IN THE GAP.
THEY EARN TOO MUCH FOR SOCIAL
HOUSING BUT TOO LITTLE TO BUY
THEIR OWN HOME.
THEY PAY 20 percent LESS THAN THE
MARKET AVERAGE FOR A FLAT THAT
IS 20 percent SMALLER.

In a nice small flat, Hamish says WHY ON EARTH ARE YOU NOT JUST
SORT OF MAKING THESE AND SELLING
THEM FOR AS MUCH MONEY AS YOU
CAN GET TO WHOEVER WANTS IT?

A young man with a beard says UH, IT'S CERTAINLY-- IT'S
CERTAINLY HARDER THAN ANY OTHER
FORM OF HOUSING, 'CAUSE YOU
DON'T HAVE THE MARGIN, YOU DON'T
HAVE THE UPSIDE.

Hamish says SO WHY DO IT?

The young man with a beard says WE THINK THAT IT'S A LOWER
MARGIN PRODUCT THAT IS GOING TO
SERVE A CERTAIN SEGMENT OF THE
AUDIENCE, AND IT COULD BE A
GLOBAL PRODUCT.

Hamish says SO IF SOME DEVELOPERS ARE
WILLING TO HELP SOLVE THIS
PROBLEM, WHAT THEN IS THE ROLE
OF GOVERNMENT?
IN SOME COUNTRIES, THEY'RE
RELUCTANT TO GET TOO INVOLVED,
BUT IN OTHER PLACES, THERE IS A
RADICALLY INTERVENTIONIST
APPROACH.

The animated model reads "Barcelona."

(crowd cheering)
People in a terrace enjoy a public show.

Eric says IT'S ONE OF THE WORLD'S
MOST POPULAR CITIES, A MAGNET
FOR TOURISTS, EXPATS, AND
RETIREES.
WITH ITS SUN-DRENCHED BEACHES,
STUNNING ARCHITECTURE, WORLD
FAMOUS FOOD, AND NEVER-ENDING
FESTIVALS, BARCELONA IS HARD
TO BEAT.
WHO WOULDN'T WANT TO COME HERE?
AND THAT'S THE PROBLEM.

The caption changes to "Eric Campbell." He is in his fifties, with a beard and white hair. He wears glasses, a leather jacket and a blue shirt.

Walking along Las Ramblas, Eric says WELL, THIS IS WHAT USED TO BE
CALLED "THE OFF SEASON," BUT
THESE DAYS, IT DOESN'T MATTER IF
IT'S THE HEIGHT OF SUMMER OR THE
DEPTH OF WINTER.
EVERY DAY, THE CENTRE OF
BARCELONA IS UNDER OCCUPATION BY
FOREIGN VISITORS, OR AS THE
LOCALS CALL THEM, "GUIRIS."
AND WHAT DOES THAT HAVE TO DO
WITH HOUSING?
WELL, IF YOU'RE A LANDLORD IN
BARCELONA, YOU'RE NOT GOING TO
WANT TO RENT OR EVEN SELL YOUR
APARTMENT TO POOR LOCALS IF YOU
CAN MAKE MUCH MORE MONEY OUT OF
GUIRIS.
RESIDENTS ARE PAYING MORE AND
MORE TO COMPETE WITH TOURISTS,
EXPATS, AND FOREIGN INVESTORS.
BUT BARCELONA IS FIGHTING BACK.

(chanting)
People protest in the street.

Eric says THE MAYOR, ADA COLAU IS A
FORMER HOUSING ACTIVIST.
SHE'S DIRECTED THE COUNCIL TO
CLAMP DOWN ON FOREIGN RENTAL
SITES LIKE AIR BNB.
SHE'S EVEN SENDING OUT
INSPECTORS TO HUNT DOWN ILLEGAL
RENTALS.

(knocking)
A female inspector knocks on a door. Eric stands behind her.

A woman says WHO IS IT?

The female inspector says INSPECTOR FROM
BARCELONA CITY COUNCIL.

Eric says MORE ON WHAT HAPPENS BEHIND THE
DOOR LATER.
VISIT ANY PUBLIC SQUARE AND IT
LOOKS LIKE LOCALS ARE LIVING
THE GOOD LIFE.
I'VE COME HERE TO MEET TWO OLD
FRIENDS, ANITA AND GEORDIE.
THEY'VE ALWAYS BEEN PROUD OF
BARCELONA'S REPUTATION AS
SPAIN'S MOST INTERNATIONAL
CITY, BUT IT'S WEARING THIN.

Eric, Anita and Geordie chat having a snack in a terrace.

In her thirties with sunglasses, Anita says YEAH.
WAY TOO INTERNATIONAL.

Geordie is in his mid-thirties, with a beard and brown hair. He wears a red shirt.

Geordie says I CONSIDER TOURISM
A KIND OF POLLUTION.

Eric says FOOD AND WINE MIGHT STILL BE
CHEAP, BUT SPANISH WAGES JUST
CAN'T MATCH WHAT FOREIGNERS PAY
FOR HOUSING.

Geordie says IT'S A CITY FULL
OF OLD PEOPLE
WHO HAVE LIVED HERE
ALL THEIR LIVES AND
HAVE A FLAT
AND TOURISTS.

Eric says SO WHAT'S IT LIKE FOR YOUNG
PEOPLE HERE, WHAT IS THEIR
FUTURE?

Geordie says THEIR FUTURE IS
SPENDING A PERIOD
OF THEIR LIFE
SHARING A ROOM
WITH OTHER FLATMATES
AND AFTERWARDS THEY MOVE
20 KILOMETRES, 50 KILOMETRES,
FROM THE CITY CENTRE.

Eric says MOVING 20KM AWAY MIGHT
NOT SOUND LIKE MUCH BY SYDNEY
OR MELBOURNE STANDARDS, BUT
BARCELONA IS NOT A SUBURBAN
CITY.
PEOPLE LIVE ON TOP OF EACH
OTHER IN NEIGHBOURHOODS WITH
THEIR OWN SCHOOLS, CORNER
STORES, BARS AND CAFES.
LEAVING YOUR NEIGHBOURHOOD
MEANS LOSING YOUR COMMUNITY.
AND RIGHT NOW ENTIRE BUILDINGS
ARE BEING EMPTIED TO MAKE WAY
FOR FOREIGNERS.

Flags hang on balconies. One reads "Families forced to leave."

Eric says SANTI MASTACHACHAS HAS JUST
LEARNED HIS THREE YEAR LEASE
WON'T BE RENEWED.

Santi is in his early forties, with a beard and brown hair. He wears a blue shirt with a print.

Santi says RIGHT NOW I'M FACING THE
PROBLEM THAT ALL THESE BUILDINGS
HAVE BEEN TURNED INTO
APARTMENTS FOR TOURISTS, SO THEY
ARE NOT RENEWING-- NOT RENEWING
ANY LONGER THE LEASE TO THE
ACTUAL TENANTS.
SO I HAVE BEEN ALREADY TOLD THAT
I WILL HAVE TO LEAVE THE
APARTMENT.

Eric says HIS ONE BEDROOM FLAT WILL BE
RENOVATED FOR SHORT TERM
TOURIST STAYS.

Santi says I PAY 600, THERE'S NO WAY I
CAN AFFORD THIS ANYWHERE IN THE
AREA.
SO I'M GOING TO HAVE TO MOVE,
MAYBE OUTSIDE OF BARCELONA, OR
TO A FARTHER AWAY NEIGHBOURHOOD
FROM THE CENTRE.

Eric says CRITICS BLAME THE SO-CALLED
"SHARING ECONOMY" FOR FUELLING
THE CRISIS.
ONLINE RESERVATIONS SITES LIKE
AIR BNB ALLOW TOURISTS TO BOOK
ROOMS AND APARTMENTS.
THE NUMBER HAS EXPLODED SINCE
2008, AND THESE ARE JUST THE
ONES THE CITY COUNCIL KNOWS
ABOUT.
THOUSANDS MORE OPERATE WITHOUT
A LICENCE.
MANY OF THEM HAVE BECOME
ILLEGAL HOTELS RUN BY AGENTS
WHERE THE TOURISTS NEVER EVEN
MEET THE OWNER.
BUT THEY MIGHT JUST MEET THESE
WOMEN, BARCELONA COUNCIL'S HOME
INSPECTORS.
DON'T LET THE MILD MANNERS FOOL
YOU, THEY'RE THE CITY'S SECRET
WEAPON AGAINST ILLEGAL RENTING.

Eric, Catalina Perez and Yvette Hidalgo walk down the street. Catalina is in her mid-thirties, with short curly brown hair. She wears s green jacket, a scarf and blue jeans.

Catalina says UH, WE'VE GOT A LIST OF FLATS
THAT WE HAVE TO CHECK.
BECAUSE WE-- WE SUSPECT THAT
THEY ARE APARTMENTS, ILLEGAL
APARTMENTS, TOURISTIC
APARTMENTS.

Eric says CATALINA PEREZ AND YVETTE
HIDALGO CAN INSPECT DOZENS OF
APARTMENTS A DAY.
FOR EACH AREA, THEY CROSS-CHECK
A LIST OF LICENSED RENTAL
PROPERTIES WITH WHAT IS BEING
ADVERTISED.

Catalina says 50 percent OF THE APARTMENTS ARE
ILLEGAL NOW.

Eric says 50 percent ARE ILLEGAL?!

Catalina says OH MORE, YEAH, YEAH, YEAH.

Eric says WOW.

Catalina says YEAH, IT'S AMAZING.

Eric says THAT'S A HUGE PROBLEM.

Catalina says EXACTLY.

Eric says YEAH, AND WHAT...

Catalina says SO WE HAVE TO STOP IT.

Eric says WHAT'S THAT DOING TO RENTS
HERE?

In her early thirties with long hair, Yvette says THE RENT PRICE GOES UP IN TWO
YEARS FOR 50 percent MORE.

Eric says WOW, IN THIS TOURISTY AREA
HERE?

Catalina says YEAH, YEAH, YEAH.
IT'S CRAZY.

Eric says SO WE FOREIGNERS ARE RUINING
BARCELONA, ARE WE?

Catalina says MM-HM.

Catalina nods and Eric chuckles.

(intercom ringing)

Eric says TO PROVE AN ILLEGAL RENTAL,
THEY SIMPLY BUZZ ON THE DOOR
AND TALK THEIR WAY IN.
THEN IT'S A MATTER OF SEEING
WHO IS IN THE APARTMENT AND WHO
THEY'RE PAYING.

Catalina says IT'S VERY WEIRD,
NO?
SUDDENLY YOU ARE A TOURIST AND
YOU ARE HAVING HOLIDAYS, HAVING
SOMEONE KNOCK ON THE DOOR AND
TELL YOU THAT-- START ASKING
QUESTIONS.
I UNDERSTAND THIS.

Catalina and Yvette visit an apartment.

Catalina says HELLO.

A young woman says HI.

Catalina says DO YOU SPEAK ENGLISH, OR..?

The young woman says YEAH.

Eric says AT THIS FLAT, A SOMEWHAT
STARTLED GERMAN GIVES THEM ALL
THEY NEED TO PROSECUTE THE
LANDLORD.

Holding a document, Catalina says OKAY.
DON'T WORRY, WE'RE FROM THE CITY.

Yvette says YOU PAY IN CASH
OR BY CARD?

The young woman says YEAH, BY CARD-
VIA THE AIRBNB.

Catalina says YOU LIKE BARCELONA?

The young woman says YEAH.

Catalina says FIRST TIME?

The young woman says YES, FIRST TIME.

Catalina says I HOPE YOU ENJOY IT.
THANK YOU
FOR YOU COOPERATION.

The young woman says THANK YOU VERY MUCH.

Catalina says THANK YOU, BYE.
SO, VERY GOOD.

The young woman closes the door.

Catalina says THEY ARE TOURISTS.
THREE YOUNG PEOPLE.
AND THEY ARE STAYING
FOR LESS THAN ONE WEEK.

Yvette says FOUR NIGHTS.

Catalina says AND THEY PAY THROUGH
THE PLATFORM AIRBNB. SO IT'S DONE.
IT'S PERFECT.

Eric says AND AT THE NEXT BUILDING,
THEY GET EVEN LUCKIER.
A DISGRUNTLED NEIGHBOUR POINTS
THEM TO A TOURIST APARTMENT
THEY WEREN'T EVEN AWARE OF.

Catalina says SO CAN YOU ANSWER A FEW
QUESTIONS FOR US?

A man in his early thirtiessays WE ARE TOURISTS, SO...

Catalina says YEAH, THAT'S WHY.

Eric says IF IT'S UNLICENSED, THE
OWNER WILL FACE A POTENTIALLY
RUINOUS FINE.
RIGHT, SO NEIGHBOURS ARE TELLING
ON PEOPLE IF THEY HEAR
FOREIGNERS STAYING THERE?

Catalina says YEAH, YEAH, YEAH, YEAH.
YOU HAVE TO ASK,
BECAUSE SOMETIMES
THEY ARE ANNOYED
BECAUSE OF THE SITUATION.

Eric says SO IF IT DOES TURN OUT
TO BE ILLEGAL, THEY COULD BE
FACING A 60,000 EURO FINE?

Catalina says YES, QUITE VALUABLE.

Yvette says FOR FOUR NIGHTS.

Catalina says YEAH.

Eric says FOR FOUR NIGHTS' RENT, A
60,000 EURO FINE.
WHERE I COME FROM, IN AUSTRALIA,
THAT'S 100,000 DOLLARS.
THAT'S A LOT OF MONEY.

Catalina says YEAH, IT'S A BIG BUSINESS.

Eric says THE CITY GOVERNMENT HAS ALSO
LEVIED BIG FINES ON THE HOME
SHARING CORPORATIONS.
IN NOVEMBER, AIR BNB AND HOME
AWAY WERE SLUGGED NEARLY A
MILLION DOLLARS EACH.
IN 2015, THE COUNCIL FROZE
APPLICATIONS FOR TOURIST RENTAL
APARTMENTS.
NOW IT'S GIVING LICENSES AGAIN,
BUT UNDER STRICT CONDITIONS.
VANESA VALINO HEADS THE
COUNCIL'S AFFORDABLE HOUSING
UNITS.

Now, Eric and Vanesa Valino stand in a rooftop. She is in her mid-thirties, with short wavy brown hair. She wears a pink cardigan over a black shirt.

Then, in an office, Vanesa says THAT'S WHY
IT'S IMPORTANT TO SET LIMITS.
WE SAY YES TO TOURIST APARTAMENTS
BUT NOT EVERYTHING CAN BE
TOURIST APARTMENTS
BECAUSE THE NEIGHBOURHOODS
ALSO NEED APARTMENTS
FOR NEIGHBOURS.

Eric says AND THE COUNCIL HASN'T BEEN
SCARED TO HIT BANKS WHERE IT
HURTS, EITHER.
IT FOUND MANY WERE JUST SITTING
ON PROPERTIES THEY HAD
REPOSSESSED, WAITING FOR THEIR
VALUE TO RISE SO THEY COULD
SELL THEM TO FOREIGNERS.

Vanesa says THE NEGOTIATION WITH THE BANKS,
ALONG WITH LEGAL MEASURES, WE HAVE BEGUN
TO IMPOSE FINES OF UP TO
300,000 EUROS
HAS ENABLED THE TRANSFER OF 250 HOMES
FROM BANKS TO THE CITY COUNCIL
TO PUT THEM IN SOCIAL RENT.

Eric says ANY CONVERSATION HERE IS
PUNCTUATED WITH THE SOUND OF
PROTEST.
(chanting)
JUST OPPOSITE THE TOWN HALL IS
A SQUARE WHERE CITIZENS COME TO
AIR THEIR GRIEVANCES.
MANY WANT THE COUNCIL TO BE
EVEN TOUGHER ON FOREIGN RENTERS
AND INVESTORS.
BARCELONA HAS A PRETTY MILITANT
HISTORY OF REVOLUTION AND
ANARCHY AND CIVIL WAR, AND EVERY
TWO OR THREE DAYS, THERE ARE BIG
PROTESTS LIKE THIS HERE ABOUT
HOUSING, AND UNEMPLOYMENT, AND
LOW SALARIES.
AND IN THIS TOWN, POLITICIANS
IGNORE THESE PROBLEMS AT THEIR
PERIL.
FOREIGN VISITORS MAY BE UNAWARE
OF THE PRESSURES THEY ARE
PUTTING ON BARCELONA'S
COMMUNITY.
FOR MANY, AN ANGRY PROTEST IS
JUST ONE MORE OPPORTUNITY FOR
AN EXOTIC SELFIE.
BUT DOES IT MAKE SENSE TO CRACK
DOWN ON ONE OF THE ONLY
INDUSTRIES BRINGING IN MUCH
NEEDED MONEY?
TERRORIST ATTACKS IN PARIS AND
LONDON HAVE SEEN A SURGE OF
VISITORS TO NORTHERN SPAIN.
LAST YEAR THE CITY OF 1.3
MILLION HOSTED MORE THAN NINE
MILLION TOURISTS.

Vanesa says THE CITY NEED TOURISM,
TOURISM CREATES EMPLOYMENT,
TOURIS IS WEALTH, IS KNOWING
OTHER CULTURES.
BUT TOURISM WITHOUT
BOUNDARIES
DEVASTATES THE AREA,
PUTS AN END TO LOCAL COMMERCE,
AND PUTS AN END TO
HOUSING FOR THE
NEIGHBOURS OF
THE CITY.

Eric says SANTI IS ALREADY NOSTALGIC FOR
THE CITY HE GREW UP IN.
A PLACE WHERE RICH AND POOR
LIVED SIDE BY SIDE AND ARTISTS,
WRITERS, AND MUSICIANS COULD
AFFORD TO LIVE IN ITS HEART.

Santi plays a record in his flat and says THIS IS WHAT
BARCELONA USED TO BE.
YOU KNOW, A GOOD MIXTURE OF FOREIGN
INFLUENCES AND A STRONG
LOCAL FLAVOUR.

A song plays CLOSE YOUR EYES
AND I'LL KISS YOU
TOMORROW I'LL MISS YOU
REMEMBER I'LL ALWAYS BE TRUE
AND THEN WHILE YOU'RE AWAY
I'LL WRITE HOME EVERY DAY
AND I'LL SEND
ALL MY LOVING TO YOU

Eric says BUT EVEN AS HE'S LOSING HIS
OWN APARTMENT, HE'S LOOKING ON
THE BRIGHT SIDE.

Santi says YOU TALK TO THE PEOPLE THAT
ARE CLOSE TO THE NEIGHBOURHOODS,
YOU WILL SEE A LOT OF PEOPLE
FIGHTING BACK, YOU KNOW?
A LOT OF PEOPLE TRYING TO STOP
SPECULATORS, TO WORK FOR OUR
HEALTH, AND TO... SO YEAH, THIS
IS THE HISTORY OF THIS CITY,
SINCE THE BEGINNING OF THE
CENTURY, AND EVEN BEFORE.
THAT'S WHY I'M, YOU KNOW, I'M
OPTIMISTIC.
AND YOU SEE DAILY VICTORIES,
THAT'S WHERE YOU GET YOUR HOPE
FROM.

Eric says SO FAR THE CRACKDOWN ON
TOURIST RENTALS HASN'T STOPPED
PEOPLE COMING.
THE STREETS CAN STILL BE
CLOGGED WITH SIGHTSEEING BUSES.

Riding in a tour bus, Eric says OF COURSE, A LOT OF PEOPLE WHO
COME TO BARCELONA DO COME JUST
TO SEE THE BUILDINGS AND THEY
ARE LOVELY, BUT YOU HAVE TO
WONDER WHAT'S GOING TO HAPPEN IF
THE ONLY PEOPLE WHO CAN AFFORD
TO LIVE IN THEM ARE RICH
FOREIGNERS.
WHAT HAPPENS TO THE CITY'S
CHARACTER, ITS LIFE?
IT'S WRECKED IF IT BECOMES A
GENTRIFIED THEME PARK.
IS IT STILL GOING TO BE THE SORT
OF PLACE YOU WANT TO VISIT?
THE SORT OF PLACE YOU'D WANT TO
LIVE?

Hamish says ONE OF THE REAL ISSUES WITH
ALL OF THIS ALSO SEEMS TO
MANAGING EXPECTATIONS ABOUT HOW
WE LIVE, HOW BIG WE LIVE.
AND ALSO WHERE WE LIVE.
WELL, THEY SAY THAT LOCATION IS
IMPORTANT.
HOW ABOUT THIS ONE?

Hamish walks out to a small balcony and says THESE PODS ARE SPECIFICALLY
DESIGNED TO STAND ON STILTS
ABOVE CAR PARKS.
IT'S ONE ANSWER TO A REALLY
COMPLEX QUESTION, WHICH IS HOW
DO YOU CREATE SPACES FOR PEOPLE
WORKING IN THE KEY SECTORS TO
AFFORD TO LIVE IN THE BIG, BUSY,
AND NOW REALLY EXPENSIVE MAJOR
CITIES?

The caption changes to "Conor Duffy."

Conor says NEW YORK, ONE OF THE
WORLD'S GREATEST CITIES, AND
ONE OF THE MOST EXPENSIVE.
IS THERE ANY POINT TRYING TO
MAKE A HOME IN THE BIG APPLE IF
YOU DON'T HAVE A MILLION DOLLAR
SALARY?
TO FIND OUT, I'VE COME TO THE
BRONX, TO VISIT A PLACE THEY
CALL "CO-OP CITY."
IT'S THE BIGGEST GOVERNMENT
BACKED COOPERATIVE HOUSING
PROJECT IN AMERICA.
POSSIBLY THE WORLD.

In off, Noel says CO-OP CITY WAS BUILT
UNDER WHAT WAS CALLED THE
MITCHELL-LAMA PROGRAM.
IT WAS A PROGRAM THAT WAS
DESIGNED TO KEEP THE MIDDLE
CLASS FROM LEAVING NEW YORK
CITY AND MOVING INTO OTHER
AREAS.
THAT WAS ABOUT 50 YEARS AGO.

The caption changes to "Noel, the boss." Noel is in his forties, with a shaved beard and a shaved head. He wears round sunglasses, a dark blue suit, a striped shirt and a silk patterned tie.

Conor says NOEL ELLISON IS THE GENERAL
MANAGER OF CO-OP CITY.
HE'S THE MAN TO SEE TO GET YOUR
HANDS ON THE CHEAPEST APARTMENT
IN NEW YORK CITY.

Conor and Noel walk into an apartment. Conor is in his early forties, clean-shaven with short blond hair. He wears a gray suit and a white open-necked shirt.

Conor WOW, IT'S REALLY BIG!

Noel says YEAH, THIS IS ONE OF OUR
THREE BEDROOM APARTMENTS IN A
TOWER BUILDING.
WE'RE ON THE 32ND FLOOR.

Conor says BUYING THIS IS JUST 30,000 DOLLAR.
THEN A MONTHLY MAINTENANCE FEE
AROUND 1,400 DOLLARS.
THIS IS THREE BEDROOMS.
FOR ONE IN MANHATTAN, IT'S
ABOUT 700,000 DOLLARS.
SO THE GOAL OF THE PROGRAM IS TO
MAKE SURE THERE ARE ENOUGH
MIDDLE INCOME WORKERS STAYING IN
THE CITY.
HAS THAT HAPPENED?
DO MOST PEOPLE COMMUTE INTO THE
CITY FOR WORK?

Noel says YES, AT LEAST FROM CO-OP
CITY'S STANDPOINT, THIS IS A
SUCCESS STORY.
WE HAVE PEOPLE WHO WORK IN
HOSPITALS, PEOPLE WHO WORK FOR
THE BOARD OF EDUCATION, TEACHERS
AND WHATNOT.
AND THEN WE HAVE A BUNCH OF
PEOPLE WHO DO BUSINESS ON THEIR
OWN, PROBABLY SMALL BUSINESS
OWNERS THROUGHOUT THE CITY.

Conor says HOW LONG IS THE WAITING LIST
TO GET IN HERE?

Noel says THE WAITING LIST IS ABOUT
FIVE YEARS AT THIS POINT AND
TIME.

Conor says WOW.

Now, they stand in the rooftop.

Conor says SO YOU CAN SEE ALL OF THE BIG
APPLE, NOEL.

Noel says YES, YOU CAN.

Conor says OUTSIDE, YOU GET A TRUE SENSE
OF THE SCALE OF THE PLACE.
IT'S ENORMOUS.

Noel says THE ONE FACT THAT WE
KNOW WE HAVE IS 15,372 UNITS.
IT MAKES US WHAT I BELIEVE IS
THE LARGEST HOUSING DEVELOPMENT
IN THE WORLD.
IN ADDITION TO THAT, I GUESS
WE'VE GOT ANYWHERE FROM 35 TO
50,000 RESIDENTS.

A female instructor gives a dance class to adult women.

In her fifties wearing glasses, the female instructor says HERE WE GO.
ONE, TWO, THREE.
HERE WE GO!

Conor says THESE GUYS ARE THE BARTOW
SWINGERS.
THEY MEET A COUPLE OF TIMES A
WEEK.
IN THIS PLACE, THEY WANT THE
OLDIES TO HANG AROUND AS LONG
AS POSSIBLE.

The female instructor says RIGHT, LEFT, CROSS OVER.

Conor says AND YOU CAN'T MAKE A PROFIT
WHEN YOU SELL.
PEOPLE TEND TO STAY.

Woman 1 says I'M DOING IT ON FOUR.
CAN I DO IT ON ONE AND FOUR?

Conor says AND THAT INCLUDES 104-YEAR-
OLD MISS LOUISE.

The female instructor says AFTER WE DO THE FIRST DANCE,
WE'RE GOING TO INVITE CONOR AND
HE'S GOING TO PARTICIPATE WITH
US, OKAY?
(all cheering)
NOW WALK THIS WAY.
ONE, TWO, THREE, WALK THIS...
OTHER WAY, ONE, TWO, THREE,
BACK.

Conor and Noel join the class.

Conor says NOEL AND I SOON FIND OUT THAT
DANCING IS HARDER THAN IT LOOKS
AT ANY AGE.

The female instructor says THEN HIPS, RIGHT, LEFT,
RIGHT, LEFT.

Conor says OUR INSTRUCTOR IS TEACHING ME
SOMETHING CALLED "THE WOBBLE."

The female instructor says THREE, FOUR!
WHAT'S THE MATTER?

Noel says I AIN'T GOT THOSE KIND OF
HIPS!

The female instructor says BUT YOU GOT-- YOU GOT WHAT
GOD GAVE YOU, RIGHT?

Noel says WHAT GOD GAVE ME!

The female instructor says PUT IT IN, PUT IT IN.
PUT IT IN.

Noel says GOD DIDN'T KNOW I WAS GONNA
GIVE IT TO THE WORLD!

The female instructor says WOBBLE.
LEFT, RIGHT, AGAIN.
AGAIN.
WALK.
ONE, TWO, THREE.
HEY, BABY.
BRING IT ON HOME!

Conor says AFTER TWO LONG MINUTES, IT'S
OVER.
AND APPARENTLY I'M NOT THAT
GREAT AT THIS.
I'M DIPLOMATICALLY TOLD IT'S
NOT HOW YOU DANCE, BUT THAT YOU
TRIED THAT'S IMPORTANT.

They all high-five.

Woman 2 says I'LL HIGH-FIVE YOU.

Woman 3 says YOU STAYED IN THERE, YOU
STAYED IN THERE!

Conor says FOR THE PEOPLE WHO CAN'T GET A
START IN PLACES LIKE CO-OP
CITY, NEW YORK CAN BE A HARD
PLACE TO SET UP HOME.
NICHOLAS DAGEN BLOOM WRITES
ABOUT THIS.
HE'S CONCERNED ABOUT THE NEXT
GENERATION OF MIDDLE INCOME
WORKERS.
HOW WILL THEY AFFORD TO LIVE
HERE?

Nicholas Dagen Bloom sits near the Brooklyn Bridge. He is in his forties, clean-shaven with graying hair. He wears glasses and a black coat.

Nicholas says UH, THEY FACE A VERY
DIFFICULT SITUATION.
UM, BECAUSE THEY WILL NOT BE
COVERED UNDER RENT
STABILIZATION, SO THE RENT CAN
INCREASE VERY RAPIDLY.
AND I THINK THAT VERY OFTEN,
THEY END UP, FOR INSTANCE,
PURCHASING MARKET RATE
APARTMENTS WHICH ARE BEYOND WHAT
THEY CAN REALLY SUSTAIN.

Conor says NO BIG SURPRISE, THERE ARE
REAL KNOCK-ON EFFECTS FROM OVER
EXTENDING.

Nicholas says WELL, THAT MEANS YOU HAVE
LESS MONEY FOR HIGHER EDUCATION
FOR YOUR KIDS, FOR RETIREMENT,
UH, AND OTHER NEEDS.
SO WE DO KNOW THAT NOT ONLY THE
VERY POOR PEOPLE IN THE CITY,
BUT ALSO A LOT OF THE MIDDLE
CLASS ARE WHAT WE CALL EITHER
"RENT BURDENED" OR IN VERY HIGH
MORTGAGES, SO THEY'RE NOT IN A
GOOD SITUATION EITHER.

Conor says FOR A BIG CITY LIKE NEW YORK,
THE BUSINESSES THAT RUN IT
DEMAND THAT GOVERNMENTS KEEP
SPACE IN THE CITIES FOR KEY
WORKERS, INCLUDING LOW INCOME
EARNERS.
SO NEW YORK CITY'S
ADMINISTRATORS HAVE AN
AMBITIOUS PLAN FOR 200,000
AFFORDABLE APARTMENTS TO BE
MADE AVAILABLE OVER THE NEXT
DECADE.
BACK AT CO-OP CITY, EVA AND
DAVE ARE LONGSTANDING RESIDENTS
AND BENEFICIARIES OF SUBSIDIZED
APARTMENT LIVING.

Dave is in his sixties, with a white beard and gray hair. He wears glasses, and a blue and white checked shirt over a gray T-shirt.

Dave says MY WIFE LEFT, AND WHEN
HER HUSBAND LEFT, WE KIND OF GOT
TOGETHER AT THAT POINT.

Eva is in her sixties, with short brown hair. She wears a green shirt under a matching cardigan, a ball necklace and a cane.

Eva says HE GAVE ME A YEAR.
(chuckling)

Conor says BOTH RAISED FAMILIES HERE AND
NOW HAVE GRANDKIDS.
EVA REMEMBERS THE ORIGINAL
ADVERTISING CAMPAIGN TO GET
PEOPLE TO MOVE TO THE COMPLEX.

In her kitchen, Eva says PEOPLE WERE ENCOURAGED TO
COME TO THIS FANTASTIC MIDDLE
INCOME HOUSING RAINBOW.
THE POT OF GOLD AT THE END OF
THE RAINBOW.
AND PEOPLE FLOCKED HERE.

Eva boils water to make tea.

Conor says CAN I GIVE YOU A
HAND, EVA?

Eva says UM, OKAY.
YOU CAN OPEN THIS DRAWER AND IN
THE FRONT ROW OF SILVERWARE...

Conor says FOR THEM, THE SYSTEM THAT
UNDERPINS CO-OP CITY HAS MORE
THAN FULFILLED ITS PROMISE.
PEOPLE WOULD BE VERY INTERESTED
TO KNOW HOW IT IS TO LIVE HERE.
WHAT'S IT LIKE?

Dave says IT'S GOOD HOUSING THAT'S
AFFORDABLE.
IN A MITCHELL-LAMA CO-OP, THAT'S
THE NAME OF THE LAW IN NEW YORK
STATE, THE STATE SUBSIDIZES PART
OF THE COST SO YOU'RE PAYING A
FIXED SHARE RATE PER ROOM.
AND THAT EQUITY IS THE SAME WHEN
YOU LEAVE AS WHEN YOU PUT IN,
YOU CAN'T MAKE A PROFIT.
BUT IN RETURN, YOU'RE GETTING IT
REALLY A REDUCED RATE.
WE FEEL THAT WE'RE LIVING IN A
BEAUTIFUL APARTMENT IN NEW YORK
CITY FOR PROBABLY HALF OR MORE
OF WHAT THE MARKET RATE WOULD
BE.

Conor says SO GIVEN THAT THERE'S NOT
MUCH NEW HOUSING STOCK LIKE THIS
COMING ONLINE, DO YOU GUYS WORRY
AT ALL ABOUT THE FUTURE FOR YOUR
GRANDKIDS?

Dave says I THINK HOUSING
AFFORDABILITY WILL ALWAYS BE AN
ISSUE.
SOME PEOPLE CLAIM THAT NEW YORK
CITY IS GOING TO PRICE ITS WAY
OUT OF THE MIDDLE INCOME MARKET
COMPLETELY.
THAT MANHATTAN WILL BE RESERVED
FOR ONLY RICH PEOPLE.
BUT I DON'T BELIEVE THAT.
I BELIEVE THAT THERE IS A
BALANCE.
WE ARE HOPEFUL, BUT AT THE SAME
TIME, I DON'T KNOW.
I REALLY DON'T KNOW WHAT'S GOING
TO HAPPEN.

The animated model reads "Copenhagen."

Hamish says DENMARK.
OFFICIALLY THE HAPPIEST COUNTRY
ON EARTH.
NINE OUT OF TEN DANES HAVE A
BICYCLE.
JUST FOUR OUT OF TEN HAVE A
CAR.
THE COUNTRY HAS HIGH POPULATION
GROWTH TARGETS.
IN UNDER A DECADE, COPENHAGEN
HOPES TO BE THE WORLD'S FIRST
CARBON NEUTRAL CAPITAL.
AND ALL OF THIS WHILE
MAINTAINING A TRIPLE A CREDIT
RATING.
THE DANES CERTAINLY SEEM TO
KNOW WHAT THEY'RE DOING WHEN IT
COMES TO LIVING.
EVEN STILL, THEY'VE GOT THEIR
OWN ISSUES WITH HOUSING
AFFORDABILITY.

Riding a bicycle, Hamish says THE THING YOU NOTICE IN A CITY
LIKE THIS IS THAT IT JUST
FUNCTIONS DIFFERENTLY TO THE WAY
OUR CITIES DO.
PEOPLE WORK DIFFERENTLY, THEY
GET AROUND DIFFERENTLY, AND THEY
LIVE DIFFERENTLY.
AND SO THAT MEANS THAT WHEN IT
COMES TO SOLVING BIG CHALLENGES
LIKE THIS, WELL, THEY'RE
THINKING ABOUT HOW TO DO THAT
DIFFERENTLY TOO.
HERE, LIKE IN AUSTRALIA, THE
PROBLEM PARTICULARLY AFFECTS
YOUNG PEOPLE.
IN LESS THAN TEN YEARS,
COPENHAGEN NEEDS ANOTHER
45,000 HOMES.
THEY NEED IN THE ORDER OF
10,000 MORE JUST FOR STUDENTS.
AND THAT'S LED TO SOME CREATIVE
SOLUTIONS.
RIGHT NEXT TO THE UNIVERSITY,
DEVELOPERS ARE BUILDING AN
ENTIRE VILLAGE OUT OF SHIPPING
CONTAINERS.

A group of students visits a container.

A young man with a woollen hat says THIS IS THE SECOND ONE OF
OURS, AS YOU CAN SEE, IT'S A
BIT-- PLEASE FEEL FREE.
IT'S A BIT MORE RUSTIC, RIGHT?

Hamish says THESE STUDENTS ARE
GETTING THEIR FIRST LOOK.
THEY'RE EAGER TO GET ON THE
WAITING LIST.

The young man with a woollen hat says THE WOODEN FLOORS, UH, IT'S
ACTUALLY THE ORIGINAL FLOOR.
YEAH, PRETTY LIKE, SMOOTH AND
SOFT, RIGHT?

Hamish says ONE DANISH SHIPPING COMPANY
ALONE DISPOSES OF 200,000
CONTAINERS EVERY YEAR, SO
THERE'S A SURPLUS OF THESE,
WHICH MEANS THEY COME CHEAP.

The young man with a woollen hat shows them a text in a tablet.

He says SO THIS IS THE ACTUAL JOURNEY
IT'S BEEN ON OVER THE OCEAN.

A young woman says OH, THAT'S NICE!

The young man with a woollen hat says STARTED IN MONTREAL, THEN
BEEN TO LIKE, I GUESS, HONG
KONG, EGYPT, AND AARHUS.

Hamish says THESE GUYS ARE ALL ON THE
HUNT FOR SOMEWHERE TO LIVE.

In her twenties, Ida says IT'S JUST GONE IN FIVE
MINUTES, A LITTLE RID-- IT'S
GONE, AND EVEN IF YOU POST
LIKE "HI, I'M IDA," THE PERFECT
RESUME, EVERYTHING.
IT'S JUST GONE.

Hamish says AND IS THERE
SOMETHING WRONG WITH YOU, OR IS
THIS...

Ida says I HOPE NOT!

Hamish says IS THIS A PROBLEM THAT ALL
YOUNG PEOPLE ARE FACING?

Ida says NO, IT'S A PROBLEM THAT WE'RE
ALL FACING.
ALL OF THE PERSONS I KNOW, AT
LEAST.

Hamish says YOU SOUND PRETTY DESPERATE.

Ida says I AM, I AM DESPERATE, IT'S
NOT FUN TO BE ALMOST HOMELESS.

Hamish says THEY CHANGED THE ZONING LAWS
IN DENMARK TO MAKE THIS WORK,
FINDING DISUSED LAND NOT YET
ZONED FOR DEVELOPMENT.
THEY CAN QUICKLY AND CHEAPLY
THROW UP A COMMUNITY.
I THINK IT'S FAIR TO SAY, MOST
PEOPLE, IF YOU SAID TO THEM "YOU
CAN GO AND LIVE IN A SHIPPING
CONTAINER, THEY WOULDN'T BE ALL
THAT EXCITED ABOUT IT.

A blond man in his twenties says NO, UH, THAT'S TRUE, AND I
ALSO HAD SOMEWHAT OF DOUBT.
IT SEEMS-- IT SEEMS PRETTY...
PRETTY NICE, ACTUALLY.
AND LOCATION-WISE, IT'S BETTER
THAN OTHER PLACES I COULD
IMAGINE.

Hamish says AND THE BIG QUESTION OF
COURSE, WOULD YOU LIVE IN THIS?

The blond man in his twenties says YES, DEFINITELY.
ALSO APPLYING AS SOON AS THEY
OPEN UP.

Hamish says THEY'RE WILLING TO TRY IT, AT
LEAST.

(electronic music plays)

Hamish says SO I'M ON MY WAY TO MEET
SOMEONE WHO WANTS TO SELL THIS
KIND OF IDEA TO THE WORLD.

Now, Hamish meets Kim in a port. Kim is in his late forties, clean-shaven with short hair. He wears a big green winter jacket and a scarf.

Kim says KIM, I'M HAMISH.

Kim says HELLO, HAMISH, NICE TO MEET
YOU.

Hamish says VERY NICE TO MEET YOU.

Kim says WELCOME TO DENMARK.

Hamish says THIS IS IT-- WHAT IS IT?

Kim says THIS IS IT.
WELL, THIS IS A FLOATING
STRUCTURE CALLED URBAN RIGGER.

Hamish says YEAH?

Kim says AND IT'S 12 STUDENT HOUSES ON
THIS FLOATING CONCRETE PLATFORM.

Hamish says AND YOU WANT PEOPLE
TO LIVE IN IT?

Kim says YEAH, WELL, IT'S NICE TO WAKE
UP IN THE MORNING AND LOOK AT
THE WATER, ISN'T IT?
HAVE A SEA VIEW WHEN YOU'RE
STUDYING.

Hamish chuckles and says YEAH, IT'S NOT BAD.
CAN WE TAKE A LOOK?

Kim says SURE WE CAN, COME ON IN.

Hamish says KIM LOUDRUP IS THE BRAINS AND
THE BALL OF ENERGY BEHIND THE
URBAN RIGGER PROJECT.
IS IT ACTUALLY FINISHED?

Kim says YES.

Hamish says SO THIS IS IT!

Kim says THIS IS A 25 SQUARE
METRE STUDENT APARTMENT WITH A
SEA VIEW THAT WOULD COST YOU
500, 600, 700 DOLLARS A DAY.

Hamish says A DAY?!

Kim says IN THE HOTEL NEXT TO US.
(chuckling)

Hamish says AND FOR THIS PLACE?

Kim says 600 DOLLARS A MONTH.

Hamish says RIGHT.

Kim says FLOOR HEATING IS WORKING,
IT'S 29 DEGREES IN HERE.

Hamish says IT'S TOASTY IN HERE, YEAH.

Kim says ISN'T THAT NICE?
AND YOU WERE SO COLD.
THE COLOUR IS COMING BACK IN
YOUR FACE NOW, AND IT LOOKS
GOOD.

A light green housing structure stands on a floating platform.

Hamish says THE CONCEPT FOR THIS DESIGN
WAS BORN OUT OF KIM'S NEED TO
FIND AFFORDABLE HOUSING FOR HIS
SON HEADING OFF TO UNI.

Kim says YOU KNOW, WHAT DOES NOT WORK
IS THESE PARENTS WHO SAY "PFFT,
THIS IS NOTHING!
"WHEN I WAS YOUNG, YOU KNOW, I
"WAS LIVING IN A SHOEBOX, EATING
"MY FEET FOR BREAKFAST."
YOU KNOW, WHAT IS THAT?

Hamish says AND FOR THIS DANE, THE
BENEFITS OF CONTAINER LIVING GO
WELL BEYOND THE PRICE.

Kim says ALL OF THE YOUNG PEOPLE THAT
LIVE HERE, THEY GET A FISHING
ROD.
AND THEY-- WE HAVE VERY CLEAN
WATERS HERE.
YOU PULL OUT A COD.

Hamish says ARE YOU SERIOUS?

Kim says OH, I'M DEAD SERIOUS!
I MEAN, YOU'LL SEE PEOPLE
FISHING ALL OVER THE PLACE HERE.
FISHING FOR THEIR SUPPER.
IT'S SO CLEAN, THIS WATER.

Hamish says ALL RIGHT.

Kim says RIGHT, YOU PULL OUT A COD AND
YOU THROW IT ON THE STOVE THAT
GETS ITS POWER FROM THE SOLAR
PANELS ON THE ROOF.

Hamish says I'LL TAKE YOUR WORD
FOR IT ON THE COD.

Kim says COD, WE HAVE COD.
WE HAVE HERRING, WE HAVE
FLATFISH, WE HAVE TROUT.

Hamish says SO WHERE ARE WE OFF TO NOW?

Kim says WE'RE GOING BELOW SEA LEVEL
NOW.
TWO AND A HALF METRES BELOW SEA
LEVEL.
AND THIS IS THE HEART OF THE
URBAN RIGGER.

Hamish says RIGHT, OKAY.

Kim says THIS IS WHERE EVERYTHING GOES
ON IN TERMS OF HEATING AND YOU
CAN SEE HERE, THE GEOTHERMAL
HEATING SYSTEM WORKS.

Hamish says IT'S HARD TO IMAGINE ANYONE
MORE PASSIONATE OR DARING WHEN
IT COMES TO SOLVING THE CRISIS
IN HOUSING.
KIM WOULD PROBABLY GIVE MOST OF
OUR POLITICIANS A RUN FOR THEIR
MONEY.

Kim says FORGET THE POLITICIANS,
FORGET THEM!
THEY'RE NOT-- THEY'RE NOT GOING
TO-- THEY'RE NOT GOING TO HELP
US.
NOT BECAUSE THEY DON'T WANT TO,
THEY CAN'T.
WE NEED TO SORT OUT THE SHIT
THAT WE'RE IN OURSELVES.
THE MARKET OF HOUSING IS DRIVEN
BY ECONOMICS, IT'S A FINANCIAL
QUESTION.
AND THE WAY WE'RE GOING NOW IS
THAT WE ARE PUSHING THE EXISTING
INFRASTRUCTURE OUT OF THE BIG
CITIES.
I MEAN, OUR NURSES AND OUR TAXI
DRIVERS AND OUR STUDENTS.
ALL THE SMALL COGS IN THE BIG
MACHINERY ARE BEING PUSHED OUT.

Hamish says WHAT HAPPENS TO THOSE CITIES
WHEN THE SMALL COGS GET PUSHED
OUT?

Kim says WELL, I THINK THAT WHEN THE
SMALL COGS DISAPPEAR, THE BIG
MACHINERY STOPS.
IT'S AS SIMPLE AS THAT.

Hamish says DENMARK IS THINKING BIGGER
ABOUT THE FUTURE OF HOUSING
THAN MOST PLACES.
THIS IS SPACE 10, AN INNOVATION
LAB.
IT'S FUNDED BY A VERY BIG AND
FAMOUS SCANDINAVIAN FURNITURE
COMPANY.

Kaave says HELLO!

Hamish says I'M HAMISH.

Kaave says HEY MAN, WELCOME!

Hamish says DON'T WORRY, THERE'S NOT A
FLAT PACK BOX OR AN ALLEN KEY
IN SITE.
KAAVE IS THE BOSS AROUND HERE.
AT 27, HE'S PLANNING FOR YOUR
FUTURE AND MINE.

Kaave is clean-shaven with brown hair. He wears glasses, a white shirt and black trousers.

Kaave says ALL RIGHT, WELCOME TO-- TO
THE FARM.

They walk into a room with a pink light where plants grow in tanks and containers.

Hamish says OKAY, THIS IS NOT THE KIND OF
FARM I'M USED TO..

Kaave says NO, BUT THIS IS WHAT YOU CALL
HYDROPONIC FARMING.
THIS IS MICRO-GREENS, BUT WE CAN
GROW ALMOST EVERYTHING.

Hamish says AND IS THE IDEA THAT
BY GROWING THIS STUFF IN
BUILDINGS WHERE PEOPLE LIVE AND
WORK THAT YOU CAN THEN BRING
DOWN THE COST OF THE BUILDING
ITSELF?

Kaave says I COULD EASILY IMAGINE
A FUTURE WHERE THE HOUSE YOU
LIVE IN IS NOT ONLY WHERE YOU
SLEEP AND WHERE YOU EAT, BUT
ALSO WHERE THE FOODS YOU EAT ARE
BEING GROWN.
AND THAT, FOR ME, IS SUPER
INTERESTING FOR MANY REASONS.
ONE IS THE PRICE.

Hamish says HERE IN DENMARK, IT SEEMS
SOLVING HOUSING AFFORDABILITY
IS NOT JUST ABOUT PRICES, TAX
POLICY OR SUPPLY.

Kaave says NO MATTER WHAT, WE
WILL BUILD MORE, BECAUSE THE
WORLD WILL KEEP ON INCREASING
WITH THE POPULATION, AND WE WILL
SOON WITHIN THE FUTURE REACH UP
TO 9.7 BILLION PEOPLE ON THIS
PLANET.
WHICH IS A HUGE INCREASE IN THE
AMOUNT OF PEOPLE, SO WE WILL
NEED TO BUILD MORE THAN A
BILLION HOUSING UNITS, NO MATTER
WHAT.
THE QUESTION IS HOW WE BUILD
THEM.
THE QUESTION IS WHERE WE BUILD
THEM, AND HOW THOSE BUILDINGS
FUNCTIONS TOGETHER.

Hamish says BUT DENMARK IS NOT JUST
LOOKING TO THE FUTURE.
IT'S ALSO LOOKING TO ITS PAST.
WHEN LIFE REVOLVED AROUND
FARMING AND A SYSTEM THAT PUTS
THE EMPHASIS ON BUYING TO LIVE
RATHER THAN BUYING TO PROFIT.
MADS IS AN INNER-CITY DAD.
HE'S PICKING UP THE KIDS FROM
SCHOOL TODAY.
GUSTAV IS THREE, AND SIRI IS
FIVE.
AND THIS IS THEIR SHARED
ROOFTOP GARDEN.

Mads is in his early forties, clean-shaven with blond hair. He wears a black jacket over a green sweater.

Mads and his boys do some gardening.

Mads says THIS IS ACTUALLY OUR
GARBAGE SHED WE'RE ON TOP OF.

Hamish says THE KIDS ARE DEVELOPING THEIR
VERY OWN TECHNIQUE FOR
GARDENING, IT SEEMS.

Mads says YEAH, VERY EFFICIENT.
KILL THE STRAWBERRY PLANTS.

Hamish says RIGHT.
THE GARDEN IS NOT THE ONLY
THING MADS SHARES WITH THE
NEIGHBOURS.
THIS BLOCK HAS A UNIQUELY
DANISH OWNERSHIP STRUCTURE.

Mads says IT'S CALLED
ANDELSBOLIG, AND...

Hamish says WHICH MEANS?

Mads says IT MEANS "SHARE
HOUSING," SO EACH OF US HAS A
SHARE.

Hamish says 16 APARTMENTS AND 16
SHAREHOLDERS.
THEY BUY INTO THE BLOCK, GIVING
THEM THE RIGHT TO LIVE THERE
AND RENT A FLAT.

Mads says SOMEHOW IT'S A MIXTURE OF
REAL ESTATE AND RENT, BUT I
THINK IT'S THE BEST OF TWO
WORLDS THAT COMES TOGETHER.

Hamish says THE ANDELS APARTMENT IS A BIG
PHENOMENON IN DENMARK.
THE PRICES ARE PEGGED TO
INFLATION.
YOU HAVE TO LIVE IN THE
PROPERTY, CUTTING OUT
SPECULATION, AND THIS IS ONE
EXAMPLE OF HOW THE DANES
SEVERELY LIMIT FOREIGN BUYERS.
BUT IT'S NOT THE SAME THING AS A
CO-OP, IS IT?

Mads says NO, LIKE, IN THE FARMING,
WHEN DENMARK HAS A LOT OF FARMS,
YOU WOULD SHARE, LIKE, THE WAY
YOU DO THE MILK.
LIKE, UH, WHEN YOU TAKE THE MILK
FROM THE COW AND YOU PUT IT IN
THE-- THE DAIRY.
THEY WOULD OWN IT TOGETHER, SO
IT'S THE SAME IDEA THAT YOU OWN
SOMETHING TOGETHER AND YOU HAVE
ACCESS TO IT.

Hamish says IT MEANS THOUSANDS OF PEOPLE
WITH ORDINARY JOBS CAN AFFORD A
DECENT FOUR BEDROOM PLACE LIKE
THIS IN THE CENTRE OF
COPENHAGEN.
WHAT WOULD BE THE DIFFERENCE IN
PRICE BETWEEN AN ANDELS
APARTMENT AND THE SAME SORT OF
THING ON THE OPEN MARKET?

Mads says RIGHT NOW IT'S AT LEAST
DOUBLE, UH, OR MORE.
I THINK THAT AN APARTMENT-- AND
THIS IS 110 SQUARE METRES, IF
YOU BUY THIS, WOULD COST-- IN
DANISH KRONER, IT'S 1.7
MILLION WE PAID FOR THIS.

The caption changes to "Nearly 340,000 AUD."

He continues AND IF YOU'RE JUST ON THE OTHER
SIDE OF THE BLOCK, BUY THE SAME
SIZE WOULD BE FIVE TO SIX
MILLION, SO IT'S-- YEAH.

The caption changes to "More 1 million AUD."

Hamish says TWO OR THREE TIMES!

Mads says TWO OR THREE TIMES THE PRICE.

Hamish says WOW.

Mad says YEAH.

Hamish says THEY HAVE A WORD IN DANISH,
"HYGGE."
IT DOESN'T HAVE A DIRECT
TRANSLATION, BUT IT MEANS
"COZINESS" AND "TOGETHERNESS IN
GOOD COMPANY."
AND SOMEHOW THAT SEEMS TO HAVE
SHAPED THE WAY THEY THINK ABOUT
HOUSING.

Mads says SOMEHOW WE HAVE MADE A WORLD
WHERE AVERAGE PEOPLE ARE NOT
ABLE TO BUY A HOUSE, AND THAT...
I THINK THAT'S WRONG.
IT'S NOT THAT I'M AGAINST THE
MARKET, I HAVE MY OWN BUSINESS.
OF COURSE I'M DRIVEN BY SELLING
STUFF.
BUT FOR ME IT DOESN'T MAKE SENSE
THAT-- THAT YOU CANNOT BUY AN
APARTMENT IN WHATEVER CITY IF
YOU'RE NOT A BILLIONAIRE.

Hamish says IN DENMARK, WE FOUND A PLACE
WITH A GENUINELY DIFFERENT
APPROACH TO THINGS.
IN AUSTRALIA, WE'RE PROBABLY
UNLIKELY TO EVER ADOPT THE
DANISH WAY, BUT BEFORE I LEAVE,
I WANT TO FIND OUT IF THERE IS
A LESSON WE CAN TAKE FROM THEM.
ESBEN IS A POLITICAL SCIENTIST.
HE'S THINKING A LOT ABOUT HOW
CITIES CAN WORK IN A
SUSTAINABLE AND AFFORDABLE WAY.

Now, Hamish and Esben stand in a dock.

Hamish IS IT NOT JUST ABOUT HOW MUCH IT
COSTS, BUT ALSO HOW WE LIVE?

Esben is in his mid-twenties, clean-shaven with brown hair. He wears round glasses and a black coat over a black sweater.

Esben says DEFINITELY, I THINK IT IS,
'CAUSE I MEAN, IF YOU FEEL LIKE
YOU CAN LIVE IN A CITY WHERE YOU
HAVE A LOT OF OPTIONS IN TERMS
OF GOING OUT INTO THE STREET AND
DOING THINGS, THEN YOU'RE ALSO
MORE INCLINED TO LIVE IN A SMALL
APARTMENT.
AND YOU'RE ALSO JUST HAPPY AND
MAYBE LIVING IN AN APARTMENT
THAT DOESN'T MEET ALL YOUR
REQUIREMENTS IN TERMS OF SPACE.
IN TERMS OF HAVING A BALCONY,
IN TERMS OF HAVING A GARDEN, ALL
THESE THINGS.
'CAUSE YOU CAN GO OUTSIDE AND
GET SOME OF THOSE NEEDS IN THE
CITY, ON THE STREETS.

Hamish says HOW DO YOU GET TO A POINT
WHERE THERE IS THE POLITICAL
WILL, THERE IS THE SOCIETAL WILL
TO FIX THESE PROBLEMS?

Esben says DANISH POLITICS IN GENERAL
HAS BEEN CHARACTERIZED BY A LOT
OF CROSS-SECTOR COLLABORATION.
UH, AND A STRONG GOVERNMENT.
BUT A STRONG GOVERNMENT THAT HAS
ALSO BEEN HIGHLY ENGAGED IN
PARTNERSHIPS OUTSIDE OF
GOVERNMENT.
AND THAT HAS CREATED A CULTURE
OF ACTUALLY TRYING TO FIX THESE
SOLUTIONS TOGETHER.
INSTEAD OF FIXING THEM IN SILOS.

Hamish says SO, THERE YOU HAVE
IT.
WE ARE ALL IN THIS TOGETHER.
IT MIGHT EVEN BE TIME TO SORT
IT OUT.

A blond woman hammers a document and says CONGRATULATIONS, STEPH!

A woman gets emotional and a man hugs her.

Fast clip show the different stories and people presented in the program.

James says IT'S REALLY IMPORTANT TO
EMPHASIZE THERE'S NO SILVER
BULLET.

Hamish says OKAY.

The end credits roll.

Kim says WE'RE ALL IN THAT SAME BOAT.
WE ARE ON THE SAME BOAT.

Producer, Bronwen Reed.

Executive Producer, Marianne Leitch.

Watch: The Home Show