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Old Posted May 11, 2014, 11:00 AM
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10023 10023 is offline
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Join Date: Jun 2007
Location: London
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Once again you've outdone yourself with an entirely unnecessary number of photos. It's quite a pain for those of us who mostly post from our phones.

Yes, I get that there's council housing in RBKC. There still is. There's some form of public or subsidized housing in most expensive cities, including plenty of Section 8 in the desirable parts of Manhattan and Brooklyn.

I'm talking about market rate housing that constitutes the bulk of the housing stock. Chelsea has always been an affluent part of London. So has Kensington. That's clear from the housing stock. The people that have been affected by skyrocketing house prices in these areas are not those on average incomes, it's younger professionals like myself. Where my father and uncles could buy their first houses in W11 and SW7, our generation is competing with stupid money from the Mideast and elsewhere, so places that would cost £1 million or so (with normal inflation) now cost £4-5 million.

There's some trickle down effect as you move to other areas (Fulham, West Kensington, the Bush, etc) that were once more affordable, but prices in prime central London really have nothing to do with middle income people who haven't lived there for generations.
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