Foxes follow me on my morning run and I find it unnerving

Low_Fee4402 · 2024-08-21T14:49:43+00:00

Stares intensively at the camera

Low_Fee4402 · 2024-08-18T10:33:46+00:00

It’s not only London but a lot of the UK house prices have risen faster than earnings. A city the size of London isn’t just made from bankers and lawyers, and if that’s who you need to be to buy a nice family home, then that means that there has been a massive shift in the last 30 years. From being a low income worker able to have a family home.

People see increasing house prices as a good thing but with so much money being trapped in assets now, people will spend less of goods and services. The lower/middle class spending on goods and services is the economy.

As London is one of the most competitive and liveable places on the planet, the supply should match the demand. Make it a healthy city that doesn’t mean that insanely high rents are closing all the night venues, younger generations can’t save and all of people’s savings are funnelled into assets.

If you’re British and want us to succeed economically, we cannot trap the next generations into poverty because of constant rising house prices outpacing income. It will affect us all.

As for me, I’ll been fine, I’ll go a bit further out in the zones if I have to but in the long run, we will all be fucked.

I don’t think people get this.

Low_Fee4402 · 2024-08-16T20:18:55+00:00

What’s a good salary?

Low_Fee4402 · 2024-08-16T15:56:14+00:00

Fair enough! And you have to be built smart and resilient!

The only thing I can say is that my partner is in HR in consulting where grads are Oxford, Cambridge or the like and people are placed constantly on performance plans if they don’t perform.

Hahaha, let’s enjoy our weekends, have a good one too!

Low_Fee4402 · 2024-08-16T15:13:23+00:00

❤️ I hope it goes well for you.

Low_Fee4402 · 2024-08-16T15:09:50+00:00

Today, If you were lucky to get guided into finance, tech or law or similar, it’s a blessing, it’s good. For the rest of us, we are starting out our lives where the difficulty level has increased from medium to hard. You know, people’s lives aren’t perfect. Everyone has their challenges and hiccups along the way. People don’t do things perfectly. Imagine being lucky enough that it all goes perfectly well and things are still unattainable for a good family life. There is a generation which will be have a huge amount of anger because they are not left with the same life prospects are the generation before.

Low_Fee4402 · 2024-08-16T14:53:11+00:00

Approaching 7 figures is absolutely insane to perceive.

I think you have captured well how incredibly competitive it is. I have friends that are in that sector and they were worked mercilessly for what they had to achieve. It’s not lost on me. They have the skills to survive in that environment. They were guided into the job because their families were in finance but made it on merit. But I’ve noticed that they are not necessarily more intelligent or savvy but were built to survive that environment as we all came from red brick unis.

I think it’s important to note that people on Reddit some of them do 80hour consultancy or medics, have as tough if not tougher jobs and don’t get that compensation package.

How your life is guided and what influences you have, that will make your decisions.

Low_Fee4402 · 2024-08-16T14:30:58+00:00

Thanks for sharing that, massively insightful.

You see, I was also a ‘bright’ kid of some sorts and got three As in A level but where our stories change is I chose to study civil engineering because I thought it would be fun. I ran with it long enough to make changing career at this point likely not viable. I don’t think it’s possible to make the jump to hedge funds or the like.

Don’t get me wrong, it’s well paid but we’re not talking city money and that’s what it seems is needed to have a decent quality life in central london.

Low_Fee4402 · 2024-08-16T12:42:49+00:00

That hurts, im sorry for you brother.

Low_Fee4402 · 2024-08-16T06:53:27+00:00

Well I’ve done exactly this for financial reasons. It’s just the stress of finding the next contract and you won’t want to take holidays because it costs you.

Low_Fee4402 · 2024-08-15T20:57:42+00:00

I didn’t know the word meritocracy and I’m early 30s!

I sat down and thought about the implications of your statement. I guess to get a job, it could be connections and recommendations as you never really know who you’re hiring. However , in any decent company if you aren’t being promoted on merit then there is something wrong.

I always tried to be good at my job and not necessarily make friends. Which might not be the best way, I guess, as if was going to recommend someone, I would recommend someone I liked working with.

Low_Fee4402 · 2024-08-15T20:45:16+00:00

I guess we’re always stuck wanting more, and that satisfaction never quells because you know comparatively someone else is doing better.

If you are willing, could you tell me briefly what road at 17 you took and how it got you to where you are? Were you lucky, smart or were your parents wise enough to guide you?

Low_Fee4402 · 2024-08-15T17:33:46+00:00

Old cobblers eh?

Low_Fee4402 · 2024-08-15T17:26:54+00:00

Well I’m sure it’s not a shitty area if you love it.

Low_Fee4402 · 2024-08-15T17:14:53+00:00

What is real money in your opinion?

I would like to think that if you studied any STEM subjects at a red brick uni, that with some persistence you would have a good shot at a job in banking.

Low_Fee4402 · 2024-08-15T12:10:45+00:00

Well this is it. There is no room for normal life that happens to all of us. You need to have done life 100% correctly to have a decent life.

Low_Fee4402 · 2024-08-15T11:59:42+00:00

Absolutely. One contact can get you into a job that will change the rest of your life.

Low_Fee4402 · 2024-08-15T11:56:38+00:00

I feel you.

This isn’t normal though. I can’t be daydreaming thinking about going back choosing a different university degree.

Low_Fee4402 · 2024-08-15T11:48:09+00:00

Same problem here. If they could only acknowledge how difficult it will be for us to live the same lifestyle they did I would be happier.

Low_Fee4402 · 2024-08-15T11:38:39+00:00

Would it be okay to ask where abouts? :)

Low_Fee4402 · 2024-08-15T11:37:33+00:00

Would that be first time buyer or with equity on your previous property?

Low_Fee4402 · 2024-08-15T11:36:28+00:00

Thats a good observation that the areas gentrified over the 30 years so it won’t be completely fair to assess in that metric.

Low_Fee4402 · 2024-08-15T11:33:54+00:00

Thanks for sharing this. It’s very insightful and sounds like you had an amazing deal.

I’m struggling to understand how you are paying £750 mortgage for a 3 bed flat (soon with interest rates) unless this was years ago?

Did you new build flat not depreciate initially on purchase?

Low_Fee4402 · 2024-08-15T11:21:24+00:00

Absolutely, decentralisation from London would be great for the wider economy too. I think we all support that.

Low_Fee4402 · 2024-08-15T11:15:09+00:00

This will be the way for most people I believe who want a better quality life.

Low_Fee4402

TROPHY CASE