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Is deep enough pool of capital for the vast majority of businesses. Its cultural diversity is a plus for most people (other than people like DHH). The big pr
by graemep 9mo ago
Is deep enough pool of capital for the vast majority of businesses.
Its cultural diversity is a plus for most people (other than people like DHH).
The big problem with London is that it is very, very expensive.
- dukeyukey 9mo agoHousing is super expensive, but even that is coming down. Transport is a bit expensive, bit it's fine. Everything else is pretty reasonable!
- johnisgood 9mo agoIs it really coming down? Only in London, UK, Europe, or more or less globally? Where are you getting this from? I am not sure everything else is reasonable if groceries alone have been going up by as much as 100% throughout the world, heh. Maybe on an SWE salary it is reasonable, sure.
- gpderetta 9mo agoI was going to reply to grandparent that only flat prices are coming down because of rising service charge costs, and being hard to mortgage because of cladding issues. But after some research it is indeed true that house prices are, to a lesser extent, also going down, at least in real terms, if not nominal.
- rowanajmarshall 9mo agoI actually wrote a webapp to show this, check it out - https://housepricedashboard.co.uk/ https://housepricedashboard.co.uk/ London house prices are falling quite a lot in real terms.
- johnisgood 9mo agoI am getting DNS_PROBE_FINISHED_NXDOMAIN.
- rowanajmarshall 9mo agoAh shoot, it's not .com, it's .co.uk. So https://housepricedashboard.co.uk https://housepricedashboard.co.uk.
- graemep 9mo agoNice work. Have you considered add real terms changes?
- rowanajmarshall 9mo agoAlready a feature, you can switch between nominal or inflation adjusted in the Change View panel -https://housepricedashboard.co.uk/?tab=change&start=2014&end=2025&type=A&adj=real https://housepricedashboard.co.uk/?tab=change&start=2014&end...
- johnisgood 9mo agoThis is pretty good! Nice. Have you ever considered adding more countries?
- graemep 9mo agoIn multiple UK regions, but the most expensive ones and London the most. Its coming down but from a very high level in London. I do not know about other countries, but movements do tend to be wide spread (at least across similar economies). We are seeing higher interest rates in a lot of countries and they are the main determinant of the multiple of income properties sell at.
- lurk2 9mo ago> Its cultural diversity is a plus for most people Cultural diversity is not a draw. Africa, Latin America, and Central Asia are all culturally and ethnically diverse. No one moves to any of these places. The primary draw of a city like London is economic prosperity, which is ironically usually only made possible by ethnic homogeneity. This is the case in Britain’s former colonies (USA, Canada, Australia, New Zealand), China, Saudi Arabia, etc. Target cities become “culturally diverse” due to the arrival of migrant labor. The migrant labor itself is not seeking this diversity out for its own sake. New migrants have their movements facilitated by networks of already-landed migrants, who provide knowledge of the immigration process, employment opportunities, and material assistance to their coethnics. These people are not moving to London because they can find people like themselves there (there are already plenty in their country of origin), nor are they moving to London because they want to experience other cultures (this was a form of conspicuous consumption that went out of fashion years ago). At best you could say they hope that the relative ethnic heterogeneity will distract from their own foreignness, but that still doesn’t amount to being drawn to diversity.
- hearsathought 9mo ago> This is the case in Britain’s former colonies (USA The USA was never a colony of britain. The american colonies were. > The primary draw of a city like London is economic prosperity Then tokyo or singapore or dubai would have been even greater draws. But they are not. What becomes a "tech capital" is primarily a political decision. If london is a major tech center, it's because of political decisions within britain but primarily outside of britain ( the US ).
- lurk2 9mo ago> The USA was never a colony of britain. The american colonies were. This is inane. > Then tokyo or singapore or dubai would have been even greater draws. But they are not. This doesn’t logically follow, but even if it did, Tokyo is an attractive destination for immigrants, even with the Japanese being notoriously xenophobic. Japan is homogenous and economically prosperous, the difference is that it restricts migrants from entering. Singapore has a huge population of day laborers that live in Malaysia and commute to Singapore. The majority of Dubai’s population is comprised of foreign laborers. > If london is a major tech center, it's because of political decisions within britain but primarily outside of britain ( the US ). And how do those decisions get made in the absence of a cohesive society capable of making them?