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Financial Times "Looks like a bubble ready to burst"
Comments
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Don't be silly, you can't expect that everyone can have the right to live in London, flipping heck, there is enough people already.
Some people should get a place at cost because they are key workers, the rest of the chancers and hangers on should be made to scrap over the finite resource in the market place or do something more worthwhile.
That would be my utopia anyway.
It seems reasonable that a people should be able to live within 40 minutes of where they work. If that's not possible, measures should be taken to increase the number of houses or encourage jobs in locations that would allow people to work that closely, or improve transport.0 -
It seems reasonable that a people should be able to live within 40 minutes of where they work. If that's not possible, measures should be taken to increase the number of houses or encourage jobs in locations that would allow people to work that closely, or improve transport.
People don't live in London just for economic reasons. It's much cheaper and very possible to work and live up north. People want to live in London because it's the best place to meet a mate, make friends and have a good time.
You'll be able to save much easier in Manchester, Leeds, Sheffield etc with most average jobs. it just might not be as much fun.
People move from the country to a city to find work but they move to the capital to find a life.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
Graham_Devon wrote: »Thing with these places is that usually the rent goes up in line with RPI too, so it becomes less and less affordable as the years pass, unless you get wage rises above RPI, which would seem unlikely looking at the past few years.
Often they are more a trap than helpful.
I suppose mortgage buyers face the same problem if interest rates go up, and overnight as opposed to modest increases over a number of years. Yes, I would hesitate to rent a housing association property. There is usually a monthly maintenance fee in our neck of the woods, on top of the rent.0 -
Do you even think the government gets everything it wants all the time? Do you not know there are countless examples of extreme crashes in probably every country in every generation?
They'll probably do everything in their power to prevent such a scenario, as they did a few years back. But that power is not limitless.
And not without consequences. At one stage the pound was down 31% against the US dollar. For someone just living in their house with no thought of selling it and whose main purchases are gas, electricity and food, they probably didn't care. But for foreign investors, making money here that they were sending elsewhere, it must have been quite a shock. I remember a few articles during the recession about the Chinese investors, and how they were lambasting the British government for allowing the pound to be devalued so much.
The last thing we need is more quantitative easing.0 -
I would have thought economic issues elsewhere would result in more money going to safe havens?
But is Britain such a safe haven? Based on the devaulation of the pound during the last recession, anyone investing here, mindful of the lever of public debt and the rate it is growing, should expect over time that the pound will move lower over time.0 -
But is Britain such a safe haven?
Yes.Based on the devaulation of the pound during the last recession, anyone investing here, mindful of the lever of public debt and the rate it is growing, should expect over time that the pound will move lower over time.
The strength of the pound back in 2007 was the abnormal situation.
The pound was unsustainably high, and that it would fall was a matter of when, not if....
And when it did fall after the crisis it only dropped back into the long term average trading range where it's sat for the last few years.
Since the end of that chart, the pound has again strengthened, and is now back up around $1.70....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
40 minute commute wasn't specific to cycling, just in general.
I cycle from south of Croydon to Westminster when I go in by bike. Takes about an hour. But the stress levels once you get near the centre go up, because you have to be so alert to all the obstacles, so I'm not sure if there is a net benefit.
I accept that, but cycling was specific to the post that you were responding to.
As I said I don't particularly like cycling in central London, I treat cycling as exercise, so cycle hard, I used to average being knocked over once every 3 months when I lived there, but still well worth it and I was never seriously hurt. It was not only quicker but I gained all that cycling time as free exercise time too, time that I would have otherwise be running in Battersea Park during the evening or very early morning.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
People don't live in London for economic reasons. It's much cheaper and very possible to work and live up north. People want to live in London because it's the best place to meet a mate, make friends and have a good time.
You'll be able to save much easier in Manchester, Leeds, Sheffield etc with most average jobs. it just might not be as much fun.
People move from the country to a city to find work but they move to the capital to find a life.
No, many people move to London for economic reasons. The prospects for jobs in London are often far higher than elsewhere, and in certain trades it is one of the leading hubs in the world, let alone the UK.
People have different views on what is fun and what constitutes a life. Many hate the idea of living in a busy built up polluted metropolis and others love everything that goes with one of the most dynamic multicultural cities in the world. Some find it far harder to make friends, paradoxically, in a big city. Others find it easy.0 -
No, many people move to London for economic reasons. The prospects for jobs in London are often far higher than elsewhere, and in certain trades it is one of the leading hubs in the world, let alone the UK.
People have different views on what is fun and what constitutes a life. Many hate the idea of living in a busy built up polluted metropolis and others love everything that goes with one of the most dynamic multicultural cities in the world. Some find it far harder to make friends, paradoxically, in a big city. Others find it easy.
It does depend on what group you're talking about but i was just chatting to one friend who teaches guitar last week and she couldn't stop talking about how much richer she was feeling now she lives in Manchester. Her rent was almost half.
There is also a lot of work around the uk if you've got a brain on you. Naturally london might be best for the financial world or a good first call for an immigrant but for lots In between the salary / spend ratio is better elsewhere.
London sucks people in because it usually has the strongest magnetic pull because more friends or family live there. It's people that we get drawn to and because the factories or farms aren't pulling us near the resources, we're gravitating to where we naturally feel happier, where more of the people we like are. For most people that means a city and for many that means London.
Other cities don't have the unusual pressures on housing that London has. Liverpool is half empty etc. People with skills that can live outside of London have a really nice life. Possibly not the best place to buy property but certainly to rent.
Maybe Manchester is the anomaly in my argument though with BBC rocking the house prices up there.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
It does depend on what group you're talking about but i was just chatting to one friend who teaches guitar last week and she couldn't stop talking about how much richer she was feeling now she lives in Manchester. Her rent was almost half.
There is also a lot of work around the uk if you've got a brain on you. Naturally london might be best for the financial world or a good first call for an immigrant but for lots In between the salary / spend ratio is better elsewhere.
London sucks people in because it usually has the strongest magnetic pull because more friends or family live there. It's people that we get drawn to and because the factories or farms aren't pulling us near the resources, we're gravitating to where the we naturally feel happier, where more of the people we like are. For most people that means a city and for many that means London.
Other cities don't have the unusual pressures on housing that London has. Liverpool is half empty etc. People with skills that can live outside of London have a really nice life. Possibly not the best place to buy property but certainly to rent.
Maybe Manchester is the anomaly in my argument though with BBC rocking the house prices up there.
I'm from London, and would live there, despite the pollution, lack of a sea view, every second person a foreigner (didn't one of the newspapers report that the majority of the population in London is now non-British?) no decent hills or mountains nearby, hopeless driving conditions....if I could afford to buy a house, mortgage free, in Herne Hill.
On the other hand, why mess with paradise? Edinburgh, below the snowline (this isn't a good place, imho, to be living above it), has great weather, dazzling views of the sea, a mere 20 minute walk away, clean air, ski slopes, a real hill, flood defences that get built even for a bit of water in the back gardens (only for river and creek flooding, mind. They don't bother with floods caused by the antiquated drainage.....)
The main thing I notice about London is that over 90% of British people choose not to live there. When you see what else is on offer - Bath, Aberystwyth, Lllandudno, Edinburgh, Oban, Knaresborough, anywhere in Cornwall, Harrogate, ....well, it's easy to understand why.0
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