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Different Strokes...

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Just got back from visiting family in Vienna.

Interesting to see the differences in life out there. There are virtually *no* flash motors, the food is excellent quality (and cheap) and the public transport seems to just work.

What was really interesting was the income/rent ratio. Anecdotal, obviously, but a really nice 2-bed flat in a decent area near a beautiful public park walking distance from the centre was 300 quid a month (yes, you read that right). Though this might not be typical; I'm not fully versed in the , and I think it's subsidised in some way (but isn't council housing, as such - far too salubrious).

However, a primary school teacher with 20 years' experience makes just over 1000 quid a month. And this is a country we are supposed to be easily integrating with. I talked about debt in the UK, and they seemed almost baffled by the idea - why would you spend money you don't have.

But, a 10X salary/property ratio struck them as perfectly rational and normal. Don't really know what to make of it all.

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Many years ago, I lived in Germany.

It was very much a save first, buy later, cash is king culture.

Chequebooks an dcredit cards were a rarity,

and regarded with suspicion.

Even car and house purchases were often made with cash.

Houses were both huge and expensive.

I discovered that a family would take on 100 year mortgages,

build a house big enough to hold three generations, and pass

the mortgage down as the younger ones began to earn money.

Nice system when families are strong, stable and fully employed.

Not so sure it works quite that way anymore, especiallly

in the larger cities.


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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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