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I moved out of London about 15 years ago but continued to visit and work there and the difference in such a short amount of time is shocking. The income dispari

by altacc 4y ago

I moved out of London about 15 years ago but continued to visit and work there and the difference in such a short amount of time is shocking. The income disparity and cost of living was bad when I lived there and seems to have gotten significantly worse each year. It's bad for Londoners and it's bad for London as it has a sterilising effect on London life and culture.

machiaweliczny 4y ago
If I had too guess problems are due to assets inflation (foreign buyers) + hard Brexit instead of staying in trading union like Switzerland.
- jmfldn 4y ago
  Yep for sure. Asset inflation caused by things like quantative easing, the poorly-implemented covid furlough scheme and various other 'trickle up' economic policies over the decades, helped to fuel the rampant wealth inequality we see now. A lot of this money goes into property speculation for example. Sky high house prices are in no small part caused by this. Austerity measures also played a massive part in where we are now. Brexit hasn't helped either.
- 908B64B197 4y ago
  I think a lot of commonwealth countries are realizing now that allowing questionable foreigners to park their questionably acquired wealth into assets might have artificially have boosted their countries perceived prosperity, but was no substitute to real economic growth based on innovation. It's a painful to take a look at cities like London and Vancouver and compare them to SF and Seattle.
Gigachad 4y ago
I had some people visit from London and after seeing my average 2 bedroom apartment in Australia, acted like I must be some kind of multi billionaire. Uh, no, this is what the average person here can afford. I can’t imagine how bad the standard of living in the Uk has got.
- jmfldn 4y ago
  I mean... it's not that bad but everyone has gone down a notch in the last 10-20, years imho. The only people living in 4+ bed detached / semi detached houses are people with inherited wealth or huge joint incomes. Doctors, senior software engineers, people who work in finance. Your average middle class professionals, teachers, civil servants, lecturers, journalists and so on, will all have gone down a rung in the ladder. They're doing OK, but probably living in a smaller terraced house or maybe a flat.
- deleted 4y ago
  [deleted]

by altacc 4y ago

machiaweliczny 4y ago

If I had too guess problems are due to assets inflation (foreign buyers) + hard Brexit instead of staying in trading union like Switzerland.

jmfldn 4y ago
Yep for sure. Asset inflation caused by things like quantative easing, the poorly-implemented covid furlough scheme and various other 'trickle up' economic policies over the decades, helped to fuel the rampant wealth inequality we see now. A lot of this money goes into property speculation for example. Sky high house prices are in no small part caused by this. Austerity measures also played a massive part in where we are now. Brexit hasn't helped either.
908B64B197 4y ago
I think a lot of commonwealth countries are realizing now that allowing questionable foreigners to park their questionably acquired wealth into assets might have artificially have boosted their countries perceived prosperity, but was no substitute to real economic growth based on innovation. It's a painful to take a look at cities like London and Vancouver and compare them to SF and Seattle.

Gigachad 4y ago

I had some people visit from London and after seeing my average 2 bedroom apartment in Australia, acted like I must be some kind of multi billionaire. Uh, no, this is what the average person here can afford. I can’t imagine how bad the standard of living in the Uk has got.

jmfldn 4y ago
I mean... it's not that bad but everyone has gone down a notch in the last 10-20, years imho. The only people living in 4+ bed detached / semi detached houses are people with inherited wealth or huge joint incomes. Doctors, senior software engineers, people who work in finance. Your average middle class professionals, teachers, civil servants, lecturers, journalists and so on, will all have gone down a rung in the ladder. They're doing OK, but probably living in a smaller terraced house or maybe a flat.
deleted 4y ago
[deleted]