London Mayor Sadiq Khan has warned the housing crisis and sky-rocketing costs faced by private renters pose a threat to the "soul of our city".
In a major speech on Monday Mr Khan said the emergency is turbo-charging inequalities with the capital at risk of becoming a "playground for the rich".
With the average private rent in London now at a staggering £2,500 per month, the London Mayor also repeated his call for the Government to give him powers to freeze rents.
He claimed the measure would save the capital's 2.7million private tenants £3,000 per year on average.
"The housing crisis is turbo-charging inequalities in wealth, health and happiness," he said.
"It's making our city less meritocratic and more divided. This is particularly the experience of young Londoners.
"For them, the ‘haves’ and ‘have-nots’ are now split between those who have the ‘bank of mum and dad’ to call upon, and those who don’t."
Hitting out at those who suggest "young people just need to stop complaining and start saving" for a deposit, he said: "Get real".
He later told The Mirror he was lobbying Labour to include powers for him to freeze rents in the party's next manifesto for Government.
"Even if we massively increase the supply of housing in London, massively increase the supply of council homes in London and across the country, in the short to medium term there will still be record numbers of people going to the private sector," he said.
"We need to improve the protections for those renting".
During his speech at the Royal Eden Docks development in east London, the London Mayor also claimed to have "smashed" housebuilding targets.
He said that a "record number" of 25,000 affordable homes had been started last year and that he had surpassed his 2015 promise to begin building 116,000 by 2023.
The London Mayor accused the Government of "throwing in the towel" over the controversial decision to ditch a pledge to build 300,000 new homes per year.
He said: "As mayor, I don't want to see London become a playground for the rich - I'm determined to build a London for everyone.
"We've completed more homes of all types than at any time since the 1930s.
"While the Government has shamefully scrapped its own home-building targets, we're busy meeting ours."
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