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Cinzano Bianco

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Everything posted by Cinzano Bianco

  1. I am wondering how you have drawn the conclusion that 50K properties in decent areas do not exist though, given it's is a pretty subjective thing to be judging... "one man's rubbish is another man's treasure" and all that. This is my belief, but I am surprised that more people don't appear to think in the same way. Perhaps people really have been brain washed by the media/ property porn of the last decade... perhaps it has always been the same. There was a time when houses were more affordable though, I think everyone would agree with that.
  2. I believe certain Uk banks have euro denominated accounts - or at least they used to.
  3. What makes you say that? There are thousands of houses all over London, some in good areas, some in bad (very subjective of course). The question is can even these "rich" people afford them?
  4. Thanks. So I assume you are a contractor? I am assuming Engineers/ Doctors on £150Kish are a fair way into their careers? I was actually under the impression that Engineers weren't really that well paid tbh. WRT 100K making a 350K property quite affordable - I agree it does... but that would be an exceptional salary, and a flat. If you are making for example, 50K (which appears to be roughly median for a male in London) 350K is not "quite affordable".
  5. OK, I understand that some earn a lot of money. What I am trying to get at is that the second part of your post: to my mind doesn't justify this last bit: given that Greater London has a population of 7.5 million(ish).
  6. I have found a couple of things if you, or anyone else is interested: Annual Survey of Hours and Earnings (ASHE) - 2010 Results 2010 Annual Survey of Hours and Earnings (ASHE) Analysis by Place of work by Local Authority (.xls)
  7. What do you do? Assuming you are in finance (or similar) and since are just talking about your colleagues and friends (who I guess would tend to be similar to you), I am not hugely surprised by your anecdote. I am trying think a little broader than that though, as I am not convinced you are anything like the norm. Also, even in London, how many couples do you seriously think earn 100-150K each?
  8. Thanks. This is pretty much what I was trying to get at. You do say though that "there aren’t actually very many genuinely nice places". I would wholeheartedly agree with you (and I am relocating because of this), but I don't think this stops the "not very nice" places being vastly too expensive. How much of London do you think is "genuinely nice"?
  9. 330K people is about 0.5% of the population, and I would guess around 10 - 15% of the working population. Financial services would more or less be the highest paid sector in London as well. I don't think this really explains how the money is there to support these prices. In my view it can only be explained by "ponzinomics", but I am trying to work out of I am living in cloud cuckoo land.
  10. Worse - a household income of £60K, so in the event these FTB couples want to have a kid, they might drop down to £30k household income... to support a 280-300K loan. But the worker drones don't need kids, that's what we have the benefit drones for.
  11. Fair enough. When you say "thousands upon thousands", could you be a little more specific? I am talking about single salaries, not joint earnings here.
  12. WTF?!?!?!? Right, it is our duty to bombard the office of Housing Minister with emails/ letters protesting about this. It appears my tax money will be spent to prop up house prices, when I am trying to save for a house, and I wouldn't even be eligible for an interest free loan. Jesus H. Tap-dancing Christ.
  13. Fair enough - are the people you know happy in those flats? We all know the expression "It's only worth what someone is prepared to pay for it", so does this mean people are just too apathetic in the UK? I wonder about this, as I know a few French people who for the most part think the housing stock in the UK is ridiculous, and people that pay to live in the flats/ houses are insane. I appreciate we are (mostly) talking about London here, but I get the impression that it just would not be accepted in France.
  14. Who is earning all this money to pay for it though? Do millions of people earn more than 60-70k in London, and want to live in a flat? It just doesn't add up in my mind.
  15. What percentage of total funds managed does that 7.3 billion represent? In any case, it's all just one big casino, and the house always wins.
  16. Really? I mean, I genuinely don't know. It strikes me that people seem to talk about 1/4 million quid like it is absolutely nothing, and that it is perfectly normal for a tiny 2 bed terrace or flat to cost this much. I think that it's absolutely mental, and if what you say is true, surely the majority should think the same? What percentage of the property market in London is 3 bed semi's or smaller?
  17. [tongue-in-cheek] They aren't making any more land [/tongue-in-cheek]
  18. How many people in london would you say earn more than 50k do you think? 50-60%ish?
  19. Ok, I must be dirt poor, or an absolute mug to accept my current salary. 300k or more for a ******ing flat. How much do you need to earn in this area? I can't wait to move away from London.
  20. I don't think it is designed to do that, more the system is an illusion of fairness to placate the masses. The money and power always filters up to the elite. The system can only be designed to redistribute it, but this won't happen.
  21. The devil will likely be in the detail of your existing deal... hard to say otherwise.
  22. Sorry to derail sllightly, but this rental house doesn't really deserve its own thread... though I had to share. Firstly, it is listed as detached... Secondly, I hope the kid isn't included (pic 4).
  23. + the.ciscokid brokerage fees . If I was in the market for a mortgage at the moment, I would probably go for that to be honest.
  24. This is where I stopped reading: Yes, borrowing less really is a struggle.
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