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Affordable housing is a misnomer. Definitionally: afford: 'To have the financial means for'. Affordable housing in London, UK. Does it cost 3.5x the minimum/l
by stegosaurus 11y ago
Affordable housing is a misnomer. Definitionally: afford: 'To have the financial means for'.
Affordable housing in London, UK.
Does it cost 3.5x the minimum/living wage, affordable to a single person? ;-)
Does it cost 6x the minimum/living wage, affordable to a couple? Not there yet.
Instead it costs some percentage of market rate.
Which generally ends up being 20x min wage or similar. Yes - as a person you'd need to become three, four, five times more useful before you can get this starter home.
As far as I can tell it's just trolling. It genuinely feels like those with wealth laughing at the lower classes, there's no other explanation for such a ridiculous use of language.
A Bentley does not become 'affordable' if I offer it to you for 50% off.
Even minimum wage would be a high bar to set because it doesn't feel affordable to everyone. But at the moment we're saying 'the top 10% can afford it so that's fine'.
- fleitz 11y agoI see mostly colleagues who rack up big bar bills complaining about how unaffordable apartments are instead of saving their money.
- guard-of-terra 11y agoSaving all your money to buy a home instead of spending is losers' game. It deprives service economy of cash, bumps home prices even more and makes everybody unhappy. So no, it's not a sound societal advice. This is problem of supply versus demand, which can be solved by either more supply or redirected demand. And maybe by removing bad money from the economy.
- beambot 11y agoYeah! Get out there and drink more instead of saving and living within your means.
- guard-of-terra 11y agoI did not say that. You did.
- jschwartzi 11y agoWhat do you do when something doesn't go according to plan and you have to stop into your savings?
- jschwartzi 11y agoWhat do you do when something doesn't go according to plan and you have to dip into your savings?
- rmc 11y agoYeah the reason people can't afford rent in London is due to expensive booze.
- stegosaurus 11y agoI see your words. Let's do some math. Please explain to me, using a worked example, how a person earning 30,000 GBP pretax (triple minimum wage) can buy an apartment that costs 200,000 GBP (cheapest I can find anywhere apart from under Heathrow Airport). For extra credit, work out the additional time taken for the purchase if the person buys 500 pints per year at a cost of 5 GBP per pint.