5 ms·

Do you think millenials being priced out of London as it became a global money laundering hub had anything to do with it? That's what I hear from my friends th

by nugget 10y ago

Do you think millenials being priced out of London as it became a global money laundering hub had anything to do with it? That's what I hear from my friends there.

jwblackwell 10y ago
London largely voted remain so not really. However I think youth are rightly frustrated about London prices
- flukus 10y ago
  40% of London voted to leave, that's enough to change the outcome. I don't think pretending there is a huge geographical divide is particularly helpful.
  - tonyedgecombe 10y ago
    If you ignore the protests of some regions how can you address their problems (real or perceived).
  - iaskwhy 10y ago
    It might not be helpful but it's not pretending, there was a huge geographical divide: http://www.bbc.co.uk/news/uk-politics-36616028 http://www.bbc.co.uk/news/uk-politics-36616028 - Some councils in London, Edinburgh, some Belfast, voted ~75% remain; - Some eastern England ares voted ~25% remain.
  - CM30 10y ago
    There was a huge divide in London too. Places like Camden, Kensington and Barnet overwhelmingly voted remain. Other places like Havering, Barking and Dagenham and Bexley voted to leave. And some areas (like Newham) were extremely close as far as percentages go. http://www.standard.co.uk/news/politics/london-eu-referendum-results-borough-by-borough-breakdown-of-brexit-poll-a3279731.html http://www.standard.co.uk/news/politics/london-eu-referendum... General rule seems to be that places with lots of university students or large businesses tended to vote remain and those with either deeply conservative populations or a lot of immigration tended to vote leave.
    - MagnumOpus 10y ago
      > General rule seems to be that places with lots of university students or large businesses tended to vote remain and those with either deeply conservative populations or a lot of immigration tended to vote leave Doesn't think that is true. Lewisham, Lambeth and Tower Hamlets are some of the places with the most immigrants and remain won in all of these places by obscenely large margins. Maybe votes were more along racial lines - White English (especially the older ones) voting to leave, but people with a more colourful Asian/Caribbean heritage voting to remain?
      - CM30 10y ago
        Not quite. Have you seen the demographics for Barking and Dagenham? https://en.wikipedia.org/wiki/London_Borough_of_Barking_and_Dagenham#Demographics https://en.wikipedia.org/wiki/London_Borough_of_Barking_and_... It's actually been specifically mentioned in a BBC article on the same subject: http://www.bbc.co.uk/news/uk-21511904 http://www.bbc.co.uk/news/uk-21511904 On the other hand, Havering is the least ethnically diverse area in London. Upminster has the lowest Simpson Index in the country. Maybe it's places with the highest and lowest amounts of diversity that voted leave and those in the middle that voted stay?
s_kilk 10y ago
Unlikely. If you look at the age breakdown of the vote, millenials and other assorted youngsters voted overwhelmingly for "Remain", while the older cohort voted for "Leave".
- dingaling 10y ago
  > If you look at the age breakdown of the vote That's not the breakdown of the vote but of exit polls and other opt-in polling such as YouGov surveys. Both of which are biased towards those (1) likely to contribute and (2) not concerned about sharing how they voted. The actual demographic composition of the vote is unknown, it could be determined ( all UK ballot papers are linked to their voter ) but that would be unprecedented and probably bad for democracy.
  - majewsky 10y ago
    > (2) not concerned about sharing how they voted Are exit polls not anonymized in the UK? At the last federal election in Germany, I was asked to contribute in an exit poll, and they had their own voting booth and urn set up for that purpose next to the actual voting room. The ballot was mostly identical, except for additional checkboxes for age group and gender, which they wanted to break down in their analyses. So still reasonably anonymized.
    - dingaling 10y ago
      The exit poll for the EU referendum at my local voting station was conducted by a man with a tablet computer! I didn't stop to investigate the process, unfortunately.
      - CM30 10y ago
        Haven't ever seen an exit poll round here. No one was trying to gage who voted for what near any of these polling stations. Guess it's more common in some areas than others.
  - aninhumer 10y ago
keithpeter 10y ago
If you look at a map showing the breakdown of referendum voting by district you will find that Scotland, London and University towns together with many larger cities voted to remain. Areas of the country that depend most heavily on EU grants (ESF/ERDF) voted to leave. Grant allocation is a reliable indicator of relative lack of investment/development. I don't live in London so I can't comment on conversations there.
smikhanov 10y ago
Becoming a global money laundering hub like London is a wet dream of every major city on this planet. Plus, as the commenter below mentions, London mostly voted remain.
- throwaway13337 10y ago
  It may be the dream of owners of property in London but not those that rent there.
  - smikhanov 10y ago
    Well, keep in mind that for every million processed via, say, Credit Suisse in London, several thousand land up in Accenture (or other IT firm), several go to Deloitte (or other consultancy), some more go to Linklaters (or other law firm). Their employees get their salaries that allow then to support their families and then go drink coffee at Nero and eat sandwiches at Pret. Everyone in this chain -- from Credit Suisse via Accenture to Nero are employing people, growing and paying wages. Now you can go "those high-earning landlord scum" as much as you want, but nobody in their right mind would say that it's better to have a situation in, say, small towns in the Northeastern England where rent is spectacularly low — but so is employment.
  - simonh 10y ago
    If you work in London at all, you get trickle down from the financial services sector. People who work in finance drink in your coffee shop, eat in your restaurant, ride in your bus or taxi, buy things in your shop. Look at what happened in 2008. Finance caught a cold and the entire global economy including Britain fell flat on it's back. Brexit has the potential to do far more damage over a much longer period of time, but mostly just to Britain. The knock on effect across the country isn't going to be pretty. But hey, if the rest of Britain decides they'd rather like to have a long drawn out recession just in order to stick it to the bankers then fine.
    - ionised 10y ago
      And those same people leech off the public purse in order to bail themselves out of their greedy, malicious fuck ups that end up ruining economies and destroying lives.
intoverflow2 10y ago
We're being priced out of everywhere. Paying over the odds for a crappy semi that the boomers hoarded for profit surrounded by leave voters outside of London isn't appealing either. EU was pretty much our lifeline that we could move to somewhere much nicer and affordable in Europe once our careers have been established.

by nugget 10y ago

Do you think millenials being priced out of London as it became a global money laundering hub had anything to do with it? That's what I hear from my friends there.

jwblackwell 10y ago

London largely voted remain so not really. However I think youth are rightly frustrated about London prices

flukus 10y ago
40% of London voted to leave, that's enough to change the outcome. I don't think pretending there is a huge geographical divide is particularly helpful.
- tonyedgecombe 10y ago
  If you ignore the protests of some regions how can you address their problems (real or perceived).
- iaskwhy 10y ago
  It might not be helpful but it's not pretending, there was a huge geographical divide: http://www.bbc.co.uk/news/uk-politics-36616028 http://www.bbc.co.uk/news/uk-politics-36616028 - Some councils in London, Edinburgh, some Belfast, voted ~75% remain; - Some eastern England ares voted ~25% remain.
- CM30 10y ago
  There was a huge divide in London too. Places like Camden, Kensington and Barnet overwhelmingly voted remain. Other places like Havering, Barking and Dagenham and Bexley voted to leave. And some areas (like Newham) were extremely close as far as percentages go. http://www.standard.co.uk/news/politics/london-eu-referendum-results-borough-by-borough-breakdown-of-brexit-poll-a3279731.html http://www.standard.co.uk/news/politics/london-eu-referendum... General rule seems to be that places with lots of university students or large businesses tended to vote remain and those with either deeply conservative populations or a lot of immigration tended to vote leave.
  - MagnumOpus 10y ago
    > General rule seems to be that places with lots of university students or large businesses tended to vote remain and those with either deeply conservative populations or a lot of immigration tended to vote leave Doesn't think that is true. Lewisham, Lambeth and Tower Hamlets are some of the places with the most immigrants and remain won in all of these places by obscenely large margins. Maybe votes were more along racial lines - White English (especially the older ones) voting to leave, but people with a more colourful Asian/Caribbean heritage voting to remain?
    - CM30 10y ago
      Not quite. Have you seen the demographics for Barking and Dagenham? https://en.wikipedia.org/wiki/London_Borough_of_Barking_and_Dagenham#Demographics https://en.wikipedia.org/wiki/London_Borough_of_Barking_and_... It's actually been specifically mentioned in a BBC article on the same subject: http://www.bbc.co.uk/news/uk-21511904 http://www.bbc.co.uk/news/uk-21511904 On the other hand, Havering is the least ethnically diverse area in London. Upminster has the lowest Simpson Index in the country. Maybe it's places with the highest and lowest amounts of diversity that voted leave and those in the middle that voted stay?

s_kilk 10y ago

Unlikely. If you look at the age breakdown of the vote, millenials and other assorted youngsters voted overwhelmingly for "Remain", while the older cohort voted for "Leave".

dingaling 10y ago
> If you look at the age breakdown of the vote That's not the breakdown of the vote but of exit polls and other opt-in polling such as YouGov surveys. Both of which are biased towards those (1) likely to contribute and (2) not concerned about sharing how they voted. The actual demographic composition of the vote is unknown, it could be determined ( all UK ballot papers are linked to their voter ) but that would be unprecedented and probably bad for democracy.
- majewsky 10y ago
  > (2) not concerned about sharing how they voted Are exit polls not anonymized in the UK? At the last federal election in Germany, I was asked to contribute in an exit poll, and they had their own voting booth and urn set up for that purpose next to the actual voting room. The ballot was mostly identical, except for additional checkboxes for age group and gender, which they wanted to break down in their analyses. So still reasonably anonymized.
  - dingaling 10y ago
    The exit poll for the EU referendum at my local voting station was conducted by a man with a tablet computer! I didn't stop to investigate the process, unfortunately.
    - CM30 10y ago
      Haven't ever seen an exit poll round here. No one was trying to gage who voted for what near any of these polling stations. Guess it's more common in some areas than others.
- aninhumer 10y ago

keithpeter 10y ago

If you look at a map showing the breakdown of referendum voting by district you will find that Scotland, London and University towns together with many larger cities voted to remain. Areas of the country that depend most heavily on EU grants (ESF/ERDF) voted to leave. Grant allocation is a reliable indicator of relative lack of investment/development. I don't live in London so I can't comment on conversations there.

smikhanov 10y ago

Becoming a global money laundering hub like London is a wet dream of every major city on this planet. Plus, as the commenter below mentions, London mostly voted remain.

throwaway13337 10y ago
It may be the dream of owners of property in London but not those that rent there.
- smikhanov 10y ago
  Well, keep in mind that for every million processed via, say, Credit Suisse in London, several thousand land up in Accenture (or other IT firm), several go to Deloitte (or other consultancy), some more go to Linklaters (or other law firm). Their employees get their salaries that allow then to support their families and then go drink coffee at Nero and eat sandwiches at Pret. Everyone in this chain -- from Credit Suisse via Accenture to Nero are employing people, growing and paying wages. Now you can go "those high-earning landlord scum" as much as you want, but nobody in their right mind would say that it's better to have a situation in, say, small towns in the Northeastern England where rent is spectacularly low — but so is employment.
- simonh 10y ago
  If you work in London at all, you get trickle down from the financial services sector. People who work in finance drink in your coffee shop, eat in your restaurant, ride in your bus or taxi, buy things in your shop. Look at what happened in 2008. Finance caught a cold and the entire global economy including Britain fell flat on it's back. Brexit has the potential to do far more damage over a much longer period of time, but mostly just to Britain. The knock on effect across the country isn't going to be pretty. But hey, if the rest of Britain decides they'd rather like to have a long drawn out recession just in order to stick it to the bankers then fine.
  - ionised 10y ago
    And those same people leech off the public purse in order to bail themselves out of their greedy, malicious fuck ups that end up ruining economies and destroying lives.

intoverflow2 10y ago

We're being priced out of everywhere. Paying over the odds for a crappy semi that the boomers hoarded for profit surrounded by leave voters outside of London isn't appealing either. EU was pretty much our lifeline that we could move to somewhere much nicer and affordable in Europe once our careers have been established.