In 70% of England you can buy the average terrace on minimium wage

michaels

Can they get serious about exchange controls whilst at the same time trying to turn the currency into a global reserve one?

Graham_Devon

michaels wrote: »

Hmm - we are in danger of having a definition of 'affordable' where a house costs less than the build cost

Not sure I fully understand this to be honest.

Many things are priced below their manufacture cost months or years later.

Cars are probably the greatest example.

The build cost of a 1930's coal miner type terrace has little to do with it's value today.

GunJack

chucknorris wrote: »

Edit: Right, must go to Youtube now to listen to 'Something better change'.

you'd do well to add (Get A) Grip (On Yourself) to that You Tube session, by far their best individual song

lisyloo

Generali wrote: »

I wrote a long and reasoned post which disappeared into the ether. The TLDR version is:

- You're all missing the substitution effect: just because I work in London doesn't mean I have to live in London.

but you need to live within commuting distance of London even if you only need to go into the office once or twice a week.
My anecdotal experience is that 2 hours is the max and that's for people who can work from home sometimes and don't forget that's door to door, so unless you live on top of a train station you probably have some walking/waiting for buses time.
Don't forget also that most people have a spouses job and possibly kids to consider.
Obviously it's easier if you just have one person/commute to consider but then you only have one income also.

michaels

Graham_Devon wrote: »

Not sure I fully understand this to be honest.

Many things are priced below their manufacture cost months or years later.

Cars are probably the greatest example.

The build cost of a 1930's coal miner type terrace has little to do with it's value today.

Providing 'housing services' has a certain cost that can be worked out on a per annum basis although it is a bit complicated - land cost, build cost, builders profit, repairs, refurbishment, demolition cost etc etc. It is pretty unlikely that 1 earner on minimum wage will earn enough to pay these costs on a 3 bedroom house (remembering that they need to cover this cost for their whole life not just the years they are working). Thus there is a need to subsidise housing for the lowest end of the income distribution. What is hard to understand?

cells

Generali wrote: »

- You're all missing the substitution effect: just because I work in London doesn't mean I have to live in London.

One of the 'problems' with London is that a huge number of jobs are concentrated in the city and Westminster (about 800,000) and also Tower Hamlets Camden Islington etc all in the centre or close to it. If they were more spread out then London would have more uniform prices. But instead of spreading out this trend is only continuing with new big office blocks concentrated in the same business districts.

Maybe they should offer incentives for large business blocks to be built in Enfield Daginham Harrow Bromley etc to spread out the office jobs

chucknorris

GunJack wrote: »

you'd do well to add (Get A) Grip (On Yourself) to that You Tube session, by far their best individual song

I like that one too, but my favourites change now and then.

lisyloo

Have said it many times before, but my CEO, board and shareholders don't give two hoots about accommodation or transport issues for staff.

onlyroz

lisyloo wrote: »

Have said it many times before, but my CEO, board and shareholders don't give two hoots about accommodation or transport issues for staff.

Not even if it means that the experienced staff all leave forcing the company to recruit newbie graduates who are willing to house-share in slums?

lisyloo

The experienced staff already have homes and are not leaving in fact do not want to move either job or home.
Newbies are recruited in Bangalore - be careful what you wish for, there's a risk jobs will be relocated to Bangalore not Bradford.

I don't like the message but that's the truth.