The myth that Canary Wharf did east London any good | Owen Hatherley | Comment is free | guardian.co.uk - http://www.guardian.co.uk/comment...
"Canary Wharf has been for the last 20 years the most spectacular expression of London's transformation into a city with levels of inequality that previous generations liked to think they'd fought a war to eliminate. Very, very few of the new jobs went to those who had lost their jobs when the Port of London followed the containers to Tilbury; those that did were the most menial – cleaners, baristas, prostitutes. The new housing that emerged, first as a low-rise trickle in the 80s and 90s followed by a high-rise flood in the 00s, was without exception speculatively built. Inflated prices, dictated by the means of a captive market of bankers, soon forced up rents and mortgages in the surrounding areas, a major cause of London's current acute housing crisis." - M F