[returningfory2]

In the neighborhood of New York City I live in, buying a 2 bedroom apartment requires you to have a higher yearly income than $250k (~= £200k). The simple desires of (a) wanting space for family and (b) wanting to live in a specific place, can push you to want to earn higher salaries.

[Joeboy]

Yeah you're right actually, glancing at Rightmove (UK property site), and going by the standard 4.5x mortgage test, you're probably not going to get a decent family home in Central-ish London on £200k. Shit's fucked up.

Edit: To be clear the repayments on a £1m mortgage would "only" be like £60k a year, you only need £>200k to initially buy the place.

[eliseumds]

Yep. And £200k/y is about £120k/y net. That'd be tough for a family with kids.

[porker]

Rubbish. The average UK family with kids is on sub-£30k net. That's tough. 4x the average isn't.