London is so damn expansive I wonder who are those who can
afford to live there?
2006-06-26 16:25:40 · 23 answers · asked by crazy_yin87 1 in Social Science ➔ Economics
New York is the most expensive city in the US. Even New Yorkers are complaining the atrocity of UK (London) price! I just came back from London. Boy I love London but everything costs outragesly and the quality of the goods was half less than the price I paid compare with those of Los Angeles, or anywhere in the US.
2006-06-26 16:49:00 · update #1
A majority of the people are Common. The wealth is distributed to an small middle class and a really small upper class.
Apartments are expensive. Most people don't drive because cars and gas cost so much money, so they ride the Tube.
2006-06-26 16:28:30 · answer #1 · answered by cute_valley_boys 3 · 1⤊ 1⤋
No! Londoners are far from all being millionaires.
Sadly, there are a considerable number of homeless to be seen sleeping in doorways, even though the authorities have campaigned against this.
Because property prices have gone up recently, many quite ordinary people are living in houses they could buy years ago. There is also "social housing", owned by charities or, although much of it has been sold off, local government. Also, rented accomodation isn't as ludicrously expensive as house prices, because people who have bought as an investment rent out their houses. And there is housing benefit for residents with low incomes.
Many people commute long distances into London from places where house prices are lower.
Property in London (and the United Kingdom generally) is expensive because it is being use as a vehicle for financial speculation.
All this said, excessive housing costs in London cause financial pain to many decent ordinary people in England.
2006-06-29 08:27:17 · answer #2 · answered by Philosophical Fred 4 · 0⤊ 0⤋
Funny coming from Iceland I thought the UK prices were reasonable. But I agree with you if your coming from the USA London is quite expensive . That's why when people from England travel to other Countries like the USA they buy their goods there it saves alot of money.
Also London is like any other city it has Rich, Middle and of course the less fortunate class which is the way most people live.
2006-06-26 18:05:52 · answer #3 · answered by dottir 2 · 0⤊ 0⤋
The government is having to subsidise housing for those people running 'essential services' such as paramedics, firefighters, nurses and doctors who have to live close to their work. Most londoners live in the outer suburbs where housing can be quite reasonable, and many share houses or flats (apartments). It can be expensive to live there, but that really depends on where you shop, eat etc. Tourist London is like tourist anywhere, needs to make money off the visitors. Its the same in any city centre, especially in the capitals of the countries, it is more expensive there than in most of the rest of the country, but that's just people wanting the cachet of living in the capital. Yes you need to be well off and on a good wage to live in the nwer or more popular places, but that's the same anywhere in the world.
2006-06-26 21:27:36 · answer #4 · answered by mike-from-spain 6 · 0⤊ 0⤋
Property prices are very expensive in London - most ordinary people live outside and commute in, unless they were lucky enough to buy a property before prices sky-rocketed.
But other things can be quite cheap - it just depends on knowing where to shop.
If you stay in the tourist areas - places like Oxford Street, Covent Garden, etc - it's very expensive to buy meals and goods - and they often are of low quality.
But if you go a bit off the beaten track, look round the street markets and little shops and eating-places down side streets, it's quite cheap.
2006-07-07 03:50:33 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The Londoners the most I know live in match-box like 18th century houses. Bedroom in the ground floor and the toilet on the first floor or vice -versa. You must have a extra bouquet yet to mix the warm and cold water. Beyond all these facilities some may have their millions with their Barclay's and HBC banks , who knows?
2006-06-26 20:37:35 · answer #6 · answered by Konfuzius 3 · 0⤊ 0⤋
Everything is answered from a perspective... to a Londoner, No. To a Phillipino villager who makes $70 a month, Yes. It's all relative.
2006-07-08 08:21:12 · answer #7 · answered by lu_dicrous 3 · 0⤊ 0⤋
The economy of many of the major cities of the world depend upon the floating population irrespective of London or otherwise.
Ramachandran V.
2006-07-06 01:19:17 · answer #8 · answered by sarayu 7 · 0⤊ 0⤋
I live in london.
Your salary in the capital is much higher than the rest of the U.K., but not sure about the salaries in U.S. It is actually not that bad. I love it. I would understand coming from a 3rd world country that you will battle a bit with the price, but your from the states. Maybe its time to consider a career change to keep with the lifestyle you wish to live.
2006-06-26 18:55:42 · answer #9 · answered by randy andy 1 · 0⤊ 0⤋
You mean the cost of living in London is high, i doubt that they have more millionaires than NY city.
2006-06-27 10:20:44 · answer #10 · answered by Alejandro S 2 · 0⤊ 0⤋