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London madness
Comments
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Another thing to consider is that because of the economic pull of London some communities are prepared to share the cost of a 2 bed house 6 ways. Whole families in one bedroom and a family in the front room. I've got it three doors down. People are prepared to live like this for the work and to be near the action.
most people are not prepared to live like that becuase they dont have to
the state will provide via housing benifits for them to not live like that
only the silly that dont know better may do that.
or the youngsters who just post schooling but pre any serious relationshipsThe old industrial era together with its pull towards regional factories has gone. Without those factories pulling people out to places like hull, the trend is to huddle together. We're a social species.
I dont buy this werre a social species so need to live in cities of 8-10 million. You dont know most of them nor will you ever. As for social, outside London is far warmer and you are more likely to know the people on your street imo
Also again in my experience a city of 0.5 million is sufficent in size to have virtually everything. beyond that there is little to no benifit. I actually think the cut off if you will is around 300,000 people towns/cities. At that level they can support most of everything internally.This isn't a Londom thing, the meta trend is massive pull towards all the giant cities right a cross the world. This is partly the ramifications of digital age. We want to surf anonymously online with far away strangers but we want loads of friends and possible future friends right on our doorstep or as close as possible.
urbanisation is required as its more productive than spread out living but there is a limit. Going from 100k town to a 200k town definitly has its advantages in that the bigger town can support more things but going from a 10 million city to a 20 million city has far far far lessor of an impact on what can be done at the larger level vs the smallerOn top Londom does have the safe haven status / property as a currency thing going on, which every government that's knows which side it's bread is buttered will desperately want to keep going.
there isnt a huge benifit to HPI induced by a shortgage.
The gains you get are probably mostly if not more than offset by the loss in not building 300k homes a year. That alone is a £30B a year hit to GDP and some 1 million lost jobs.So I wouldn't expect much to change apart from a fluctuation of prices as is normal in a one way long term bull market.
well yes its not going to change now but nothing can grow exponentially forever its simply an impossibility
the question is at what point do things change.
The biggest challange imo is the rapid growth of BTL. Some 1,000 homes PER DAY are currently going from Owner Ocupiers to Landlords. Yes 1000 per DAY.
That simply cannot continue. For if it did, in just 45 years no one would own their own home and everyone would be renters which of course is just stupid.
so what and how it stops is going to be important. IMO the build rate has to jump towards 400,000 to stop the growth in Private Rentals. I cant think of anything else that could do it without causing major other problems.
So even if there was no HPI and prices were flat in real terms for decades something needs to give to reverse the trend of owner ocupier to landlords0 -
No, you're wrong about urbanisation, the bigger you grow, the more efficient you become, hence why you can get paid better and enjoy bigger and better parties in London than anywhere else in the UK.
http://www.ted.com/talks/geoffrey_west_the_surprising_math_of_cities_and_corporations
London will innovate and house dozens and dozens of people on the land once used to accommodate a small family by building up and down .... And that small family that owns that land first will one day probably become very, very rich from this dynamic.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
No, you're wrong about urbanisation, the bigger you grow, the more efficient you become, hence why you can get paid better and enjoy bigger and better parties in London than anywhere else in the UK.
http://www.ted.com/talks/geoffrey_west_the_surprising_math_of_cities_and_corporations
like dinosaurs perhaps?0 -
like dinosaurs perhaps?
Yes one day there will be a big comet or really nasty virus but by then you'll be past caring about property prices.
Until then though, it's business as usual.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
so the biggest cities in the world have the richest per capita people?
By comparison to the economies they are located in, yes.
Economies of scale work across all living organisms, and humanity, in remarkably similar measures.“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 -
HAMISH_MCTAVISH wrote: »By comparison to the economies they are located in, yes.
Economies of scale work across all living organisms, and humanity, in remarkably similar measures.
anyone that believes that also believes than immigrants don't take UK people's jobs and don't depress wage levels and also believes
that immigrants are essential to reduce wage levels and do essential jobs in Aberdeen to help retired people on fixed incomes.0 -
I haven't read the whole thread, but wondered what some people thought about the idea of properties only being availaible to owner occupiers for the first 6mths of being on the market?
This idea if implemented 2 yrs ago would have been a much more socially positive policy. Plus, councils could have been given some power to decide how much this policy was applied, for example, 50% of a new build estate could be for the coucil to decide how much could fall open to buy to et hands.Peace.0 -
One man's trash....
Seriously, while not my dream area, Walthamstow is a lot of the things I love about London. Multicultural, tolerant, liberal, vibrant, good access to lovely green spaces and a few tube stops from almost unlimited things to do.
I'd welcome alternative suggestions about where to move, but not if they're areas where everyone looks the same, votes UKIP, and there's nothing to do in the evenings but sit around watching telly.
You certainly have all the right-on buzzwords, which is a good start on your journey towards celebrating the inclusive diversity of our vibrant inner city areas.
It's still Walthamstow though, an area which, buzzwords or no, is not safe to walk around at night.0 -
ruggedtoast wrote: »You certainly have all the right-on buzzwords, which is a good start on your journey towards celebrating the inclusive diversity of our vibrant inner city areas.
It's still Walthamstow though, an area which, buzzwords or no, is not safe to walk around at night.
seriously do the crime statistics support this?0
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