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Totally agree, I suppose my point was just to challenge the idea that £1k was not a useful amount of money for someone living in one of these places.
Your chums in Hackney did well but I remember queuing up outside to view places like this in open houses for roughly the same prices back in 2013. Some bits of the 2-bed flat market have seen minimal growth in almost 10 years so not everyone was gifted massive equity by the market.
NickCJ
+1 for fuck leaving London and never going to the midlands.
Nice mews house in Barbican on TMH atm if you wanna go halves?
@NickCJ we are both kinda guessing on that front, but pals of mine who are closest to owning 2mil places got there by making money on places in Hackney first and they defo dont pay 10k for their mortgage, but I understand the point you are making, large finical commitments that are reliant on consistent large incomes are terrifying. I think we'd be in real financial trouble now if we had bought the house I wanted to buy (stretching ourselves) and not the one we ended up in which my wife thought was way more sensible.
Who could have foreseen a global pandemic, plus losing a job, plus having a kid, minus a single fucking penny from the government for best part of a year.