> 1 bedroom apartment in bad areas where your car insurance will be at the highest cause of thefts etc costs around £250k.
> Towards central London you are looking at around £750-900k for an 1 bedroom apartment.
GBP 250 == USD 312
GBP 750 == USD 938
GBP 900 == USD 1124
Man, apparently rent is a LOT cheaper in the UK. Cause I'm positive you can't get a one-bedroom apartment in even the _worst_ parts of NYC or SF for $310 (not a single one I bet), and $900-$1100 for a one bedroom would be considered a deal in even the _worst_ parts of NYC or SF. (exceptions for long-time tenants with rent control)
A one-bedroom in NYC or SF is like $2000 and up. Way way up. A new construction-ish one-bedroom is going to start at $3000 (if you're 'lucky') and go way up.
Indeed, these rental prices are not typical of other US cities, just as I'm sure London is untypically high rent for the UK.
So my main takeaway is, woah, I had no idea rent was so cheap in London!
And I'm not sure people who don't live there (especially who live overseas) realize quite what we're talking about when we talk about how expensive rent has gotten in NYC or SF.
I believe he is talking about buying condos; those prices are in thousands of dollars. Based on friends of mine living in London, my understanding is that rent is much more expensive that that (and more or less in line with NYC rental prices).
> Towards central London you are looking at around £750-900k for an 1 bedroom apartment.
GBP 250 == USD 312
GBP 750 == USD 938
GBP 900 == USD 1124
Man, apparently rent is a LOT cheaper in the UK. Cause I'm positive you can't get a one-bedroom apartment in even the _worst_ parts of NYC or SF for $310 (not a single one I bet), and $900-$1100 for a one bedroom would be considered a deal in even the _worst_ parts of NYC or SF. (exceptions for long-time tenants with rent control)
A one-bedroom in NYC or SF is like $2000 and up. Way way up. A new construction-ish one-bedroom is going to start at $3000 (if you're 'lucky') and go way up.
Indeed, these rental prices are not typical of other US cities, just as I'm sure London is untypically high rent for the UK.
So my main takeaway is, woah, I had no idea rent was so cheap in London!
And I'm not sure people who don't live there (especially who live overseas) realize quite what we're talking about when we talk about how expensive rent has gotten in NYC or SF.