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"two people on minimum wage can buy a 3 bed house pretty much everywhere in the country outside the south east" source? Because it doesn't feel like that at all
by matt-p 3y ago
"two people on minimum wage can buy a 3 bed house pretty much everywhere in the country outside the south east" source? Because it doesn't feel like that at all.
https://www.theguardian.com/society/ng-interactive/2023/jun/12/interactive-tool-that-shows-where-you-can-afford-to-buy-or-rent-home-great-britain https://www.theguardian.com/society/ng-interactive/2023/jun/... take a look at this map - all the bits of Britain that are actually nice to live in are in "can't buy, can rent" or worse.
Prove me wrong, give me an example area?
- dukeyukey 3y agoAlso worth seeing that London has about 9 million people, and the south-east has another 9 million. That's 27% of the UK's population in the now-unaffordable area. Throw in some expensive areas outside the south-east (Cambridge, Bristol, seaside resort towns) and that goes up to 30% easily.
- matt-p 3y agoIndeed. That's before you've even gotten to places like Manchester, Edinburgh and the like. Instinctively it feels like about 2/3rds of people live in "unaffordable to buy" areas. Worse it's probably the best paid 2/3rds of the country.
- Ekaros 3y agoAnywhere in the world demand is where there is supply for wages. Most places just have not succeed matching that demand with supply on the housing. While supply of wages has still gone on... Very often where there is no well paid jobs or even paid jobs the demand is low, so housing is cheap. Urbanization has been failed. Supply of housing has not kept up with labour around in most urban areas.