4 ms·
As someone who born and raised in Cambridge the possibility of owning anything larger than a shared shoebox has plummeted into impossibility.
by elliotpage 8y ago
As someone who born and raised in Cambridge the possibility of owning anything larger than a shared shoebox has plummeted into impossibility.
- swarnie_ 8y agoI can relate.... I'm just a little further away in Buckinghamshire but the local train can get you to zone 1 in under 30 minutes. 4 x my salary would get me a 2 bed flat if i didn't mind living in a ghetto.
- whatshisface 8y agoIf you had 4x your salary, wouldn't you be spending a lot on keeping up your house, and paying a lot of taxes for local amenities like schools? I don't understand how an area that affluent could be a ghetto.
- maccard 8y agoI think he's saying that if he borrowed 4x his salary for a mortgage (which is the commonly cited figure as the max you can borrow), he could only afford a ghetto.
- swarnie_ 8y agoPretty much this yes.
- walshemj 8y agoNo property taxes are very low in the UK some one in a 10M house in London pays less than an upper middle class person does in some US states
- laurencerowe 8y agoAnd tenants are anyway liable for paying Council Tax, the property tax equivalent.
- walshemj 8y agoAnd in which country is that not so? the landlord just in creases the rent to cover his expenses.
- collyw 8y agoAs someone who lived in Cambridge a while ago, Barcelona isn't much different in that regard. I have a theory that its all to do with fiat money, and it took 40 or so years for the effects to filer through.