[chgs]

U.K. has a viscous cycle where if your parents are in commuting distance of London you can live with them for a few years and the money you save from not renting will fund a deposit. By the time you’re 30 you can then by and your career will have progressed

If you can’t benefit from that then you spend that deposit on renting, which means you can’t buy in your 30s and are trapped in the rent cycle.

[angra_mainyu]

> If you can’t benefit from that then you spend that deposit on renting, which means you can’t buy in your 30s and are trapped in the rent cycle.

I disagree with this - assuming the average white collar job (given HN), you _will_ progress salarywise from your early 20s to your early 30s.

When I was a Jr. Software Dev at 23, I both didn't have the money to afford a house where I got all the job offers (which wouldn't make sense), nor would it have been a good idea given I would've wanted to stay open to chasing higher salaries after 1-3 years elsewhere (which I did).

Maybe some decades ago it was common to spend your whole professional career in the same city, but as a dev I've had jobs pop up in different cities, heck even different countries!

[chgs]

Jobs in different cities in the U.K.? Jobs in London pay far more than ones in Manchester or Birmingham, let alone the majority of the country.

That’s the point - the junior jobs tend to be in the major cities especially London. If you are from say the kings lynn suburbs, or barnstaple, or thirsk, it’s unlikely you’ll get a job with high career growth without spending a decade with all you income in rent and commute as you won’t be living with parents and saving £1200 a month (in the London case)

Most people are looking to settle down in one place by their 30s when they have kids. Of course that doesn’t happen as much now in the western world, mainly due to housing costs rather than active choice, and sure some are happy to be global nomads, never put down roots, never have a family. Renting can make sense for them.

Doesn’t change the fact that most people have at least one child, and benefit from having a steady home they own near their parents. This skews massively in favour of those in London and commuting distance as that’s where the highest paid jobs are.

[walthamstow]

It's a great advantage of people from the London area, especially inside zone 6 where travel is much cheaper than outside the TFL area.

However, it is also likewise a trap. Prices have moved quicker than people can save, unless they have a lucrative career or live like a monk

I know one person trapped like this, he's 30 this year. He has good savings but can't afford to buy on his own, bank won't lend enough on his salary, he needs a partner, but it's harder to find one when you live at home.

[Tade0]

I think it's a broader phenomenon. I was raised in the capital city of my country, but moved to a smaller city because I can work remotely and was largely priced out of the real estate market at home anyway.

This allowed me to afford an apartment while my siblings who stayed are basically stuck renting.