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Just as a counter-point, I live and work in London. I can't imagine ever being able to buy a home here unless something drastically changes, house prices are cl
by _Wintermute 5y ago
Just as a counter-point, I live and work in London. I can't imagine ever being able to buy a home here unless something drastically changes, house prices are close to 10x my annual salary.
- goodpoint 5y ago> house prices are close to 10x my annual salary Plenty of people in the world save for 20 years for a house. https://www.globalpropertyguide.com/Europe/price-gdp-per-cap https://www.globalpropertyguide.com/Europe/price-gdp-per-cap
- oblio 5y agoAnd historically houses have always been hovering around the same 20x multiplier for desirable places, except for a few small blips like the postwar boom. And of course stuff like the American westward expansion, because land was dirt cheap as were materials (everything was forested so you just had to start chopping, more or less).