4 ms·

You're not alone. I have the exact same thoughts here in London, England. Average house prices here are 10x median income. Me and my partner want to start a fa

by nly 5y ago

You're not alone. I have the exact same thoughts here in London, England. Average house prices here are 10x median income. Me and my partner want to start a family, but on my sole income we'll be paying ~50% of my take-home pay in mortgage + property taxes. It's probably not worth her continuing to work (although it's her choice) if we have a kid, due to the cost of childcare. Belts will be extremely tight even though I'm well inside the top 1% income wise. That said, I still thank my lucky stars I am where I am, and can't imagine how someone on a median income feels about their prospects.

gambiting 5y ago
I know it sounds harsh, unreasonable even, but....just move out of London. I"m in the north east, just bought a 3 bed house with a garden and a double drive for £180k. My friends just moved up from London literally a month ago, bought a massive townhouse with 5 bedrooms/3 bathrooms on a major street for £300k. We're all tech workers, we all work remotely - why stay in London? Because it has nice restaurants and museums? I don't buy it. Not if you want to start a family, own a house, afford a nice car and still have some money left at the end of the day.
- nly 5y ago
  My career is in the types of companies typically only found in London. None of them hire remote workers, even now. My partners career requires her to work on-site in London. My family are in the South East. Besides all that, home ownership is really becoming a huge class and generational divide and house prices are rising faster outside London than within. It's only a matter of time before people in areas like you describe are priced out too.
  - gambiting 5y ago
    That's fair enough. One thing I'll say you might be very off the mark with the quarter of salary thing. Both me and my wife(also a programmer) make about 75% as much as those friends who just moved out of London. Yes, anecdotes, I know. But I'm pretty sure tech worker salaries aren't as bad up here as people make it out to be.
    - nly 5y ago
      I removed the comp comment, as it seemed a bit crass. In any case, my experience doesn't echo that. My salary is almost 6x what it was 3 years ago when I worked 30 miles outside of London (as the crow flies) and my job is way less stressful now Before moving to London I had offers from 2 other companies both offering numbers close to what I was on previously. Moving to London was instantly 2x their best offer. Overall I think if you can get over the home ownership hurdle, the potential for future comfort in the city is way greater.
      - gambiting 5y ago
        I mean, I totally believe you - it can be very situational :-)
        nly 5y ago
        Sure, and I'm pretty confident things have leveled up a bit in the last 3-4 years.
- kblev 5y ago
  May I please ask which city is this ?
  - gambiting 5y ago
    Newcastle.
908B64B197 5y ago
> You're not alone. I have the exact same thoughts here in London, England. Average house prices here are 10x median income. Did the city try not to be an asset parking for questionably acquired assets by wealthy foreigners?

by nly 5y ago

gambiting 5y ago

I know it sounds harsh, unreasonable even, but....just move out of London. I"m in the north east, just bought a 3 bed house with a garden and a double drive for £180k. My friends just moved up from London literally a month ago, bought a massive townhouse with 5 bedrooms/3 bathrooms on a major street for £300k. We're all tech workers, we all work remotely - why stay in London? Because it has nice restaurants and museums? I don't buy it. Not if you want to start a family, own a house, afford a nice car and still have some money left at the end of the day.

nly 5y ago
My career is in the types of companies typically only found in London. None of them hire remote workers, even now. My partners career requires her to work on-site in London. My family are in the South East. Besides all that, home ownership is really becoming a huge class and generational divide and house prices are rising faster outside London than within. It's only a matter of time before people in areas like you describe are priced out too.
- gambiting 5y ago
  That's fair enough. One thing I'll say you might be very off the mark with the quarter of salary thing. Both me and my wife(also a programmer) make about 75% as much as those friends who just moved out of London. Yes, anecdotes, I know. But I'm pretty sure tech worker salaries aren't as bad up here as people make it out to be.
  - nly 5y ago
    I removed the comp comment, as it seemed a bit crass. In any case, my experience doesn't echo that. My salary is almost 6x what it was 3 years ago when I worked 30 miles outside of London (as the crow flies) and my job is way less stressful now Before moving to London I had offers from 2 other companies both offering numbers close to what I was on previously. Moving to London was instantly 2x their best offer. Overall I think if you can get over the home ownership hurdle, the potential for future comfort in the city is way greater.
    - gambiting 5y ago
      I mean, I totally believe you - it can be very situational :-)
      - nly 5y ago
        Sure, and I'm pretty confident things have leveled up a bit in the last 3-4 years.
kblev 5y ago
May I please ask which city is this ?
- gambiting 5y ago
  Newcastle.

908B64B197 5y ago

> You're not alone. I have the exact same thoughts here in London, England. Average house prices here are 10x median income. Did the city try not to be an asset parking for questionably acquired assets by wealthy foreigners?