Quotulatiousness

November 16, 2017

Housing woes in the downtown core

Filed under: Britain, Humour — Tags: , , — Nicholas @ 03:00

A timely and clearly heartfelt plea by Eleanor Shaw that only needs a brief preface from Colby Cosh:

All I want are the same things my parents wanted – a good job, a loving partner and a two-bedroom live/work space with balcony in a nice area of the world’s third-richest city.

It’s easy for the Gen Xers and Baby Boomers. To them, with low property prices in areas considered ‘undesirable’ at the time and interest rates between five and 15 per cent, getting a mortgage was easy.

But for us, those opportunities have gone. To live anywhere in London, even somewhere unsexy, is prohibitively expensive. All the nice houses are already owned by older people with better jobs, a situation surely unique in the history of the world.

And it’s not just London. In all the other cool cities around the UK – Edinburgh, Bristol, Manchester – stylish city-centre properties suitable for fashionable twentysomethings are priced far, far beyond our reach.

[…]

The government must act now to build affordable properties for millennials, and support us during our tough first decade in the capital as we work our way up in our careers until we have cleared our debts and are pulling in seven figures.

Then, and only then, can we sell our London homes to developers and move to massive houses in the country.

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