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Not really. A person earning $125k in London in their mid twenties is still probably renting. You might object that few renters earn that much, but even people

Not really. A person earning $125k in London in their mid twenties is still probably renting. You might object that few renters earn that much, but even people earning $35k in the UK are still probably renting if they're younger that 35. Whilst that income might be tight against living expenses, it's not poverty.

gumballindie 3y ago
125k and not being able to buy is poverty. Buying a new phone or laptop every few years and a feel good holiday in a poor country doesnt compensate for it.
- spacebanana7 3y ago
  I agree it's an unfortunate position, but poverty is too strong a word. Even after paying rent, bills and saving - such a person would likely have tens of thousands of dollars to spend on holidays, video games or sneakers. Poverty describes people who have to use food banks not people who have $100 brunches at Cedric Grolet.
  - gumballindie 3y ago
    Sneakers and video games get old and turn worthless. You can still be poor owning those and without food stamps. Thats what keeps folks distracted from real issues. Also you dont get to keep “tens of thousands”. After tax thats roughly 5k£. And while you flush money down the loo each month on rents, your landlord gains wealth and controls your life. Took me a while until it finally struck me. If you can please consider building equity. You’ll thank yourself later.
- dukeyukey 3y ago
  It's also pretty unusual, at least if the person intends on staying in London for now. From first-hand experience, you can get a starter 1-or-2 bed apartment earning ~£70k or so (in zones 2-3 at that), still quite a lot but way under $120k.
ImageXav 3y ago
Someone earning $125k in London is in the top 1% of salaries. They would be able to quickly save up enough for a deposit. Not many 25 year old are making that, even in tech! The Median salary in the UK is around £34000 last I checked on the ONS website. Anyone in London on the Median income is struggling at the moment due to high rents, energy bills and food costs.

gumballindie 3y ago

125k and not being able to buy is poverty. Buying a new phone or laptop every few years and a feel good holiday in a poor country doesnt compensate for it.

spacebanana7 3y ago
I agree it's an unfortunate position, but poverty is too strong a word. Even after paying rent, bills and saving - such a person would likely have tens of thousands of dollars to spend on holidays, video games or sneakers. Poverty describes people who have to use food banks not people who have $100 brunches at Cedric Grolet.
- gumballindie 3y ago
  Sneakers and video games get old and turn worthless. You can still be poor owning those and without food stamps. Thats what keeps folks distracted from real issues. Also you dont get to keep “tens of thousands”. After tax thats roughly 5k£. And while you flush money down the loo each month on rents, your landlord gains wealth and controls your life. Took me a while until it finally struck me. If you can please consider building equity. You’ll thank yourself later.
dukeyukey 3y ago
It's also pretty unusual, at least if the person intends on staying in London for now. From first-hand experience, you can get a starter 1-or-2 bed apartment earning ~£70k or so (in zones 2-3 at that), still quite a lot but way under $120k.

ImageXav 3y ago

Someone earning $125k in London is in the top 1% of salaries. They would be able to quickly save up enough for a deposit. Not many 25 year old are making that, even in tech! The Median salary in the UK is around £34000 last I checked on the ONS website. Anyone in London on the Median income is struggling at the moment due to high rents, energy bills and food costs.