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The poor and unemployed are also being priced out of London with the rise in rent and gentrification. It's a bit sad when people are priced out of the area tha
by bgeeek 10y ago
The poor and unemployed are also being priced out of London with the rise in rent and gentrification. It's a bit sad when people are priced out of the area that they grew up in. I do appreciate that this problem is not confined to London, but in some ways London is a more extreme city than anywhere else in the UK (extreme wealth and poverty side by side).
This rise in rents has also made it difficult for generation/s to ever consider buying while living in London. Young people typically move to London and then when they want to settle down, they leave. As you get older the idea of communal living soon loses its appeal.
- ghaff 10y ago>Young people typically move to London and then when they want to settle down, they leave. This has long been a dynamic in many large cities though and only in part because of housing costs. Of the significant number of classmates in my MBA program who moved to Manhattan for jobs after graduation, only a handful remained in the city once they got married and had children. Many of those could have remained in Manhattan if they made the inevitable compromises--and there will always be trade-offs city vs. suburbs--but didn't choose to do so.