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Priced out of Paris

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31–40 of 186 posts

Re: Priced out of Paris

#31
An interesting phenomenon in Paris is the fact that there are still many housing projects inside Paris proper. Which means that effectively only the middle class is getting priced out. Only the really rich or really poor get to stay.

In the meantime democratic representation is failing: Paris is a metropolis of 12 million inhabitants and only about 2.2 millions vote for the mayor. The government needs to expand the municipality like it did in 1795 and in 1860.

Re: Priced out of Paris

#32
post #12
post #3

Why is Paris really expensive? Constricted supply and high demand. Why is the supply constricted? Because Paris refuse to build anything in the center. That's because the center is a historical preservation district writ large. If you build anything modern, it would "ruin" the image of Paris. So, Paris would need to change its policy and start demolishing old buildings, and build higher density buildings. Certainly,…

According to Wikipedia[1], Paris is the 34th densest city in the world. 5 French cities are denser, and all of them are Paris' suburbs. Only 3 non-French European cities are denser than Paris. Your comment lacks foundations. 1: http://en.wikipedia.org/wiki/List_of_cities_proper_by_popula...

Its relative. Paris would be even denser given the extreme demand in the city, and with modern technology could be say the 10th densest city and still very livable.

Re: Priced out of Paris

#33
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

A 2009 report said that 40% of London's families are on housing support. So these people live there because someone else pays.

Re: Priced out of Paris

#34
post #22
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

The 1% buy multiple properties in many different cities. There have been articles about how the City of London has neighborhoods of empty luxury apartment developments owned by various sheikhs and russian/central asian commodities oligarchs. In SF when you buy a house you are also competing with dozens of investors from overseas paying cash who don't have any intention of ever living there. I believe that the Vancouv…

Note that the City of London is in some ways a tax haven and a neighborhood in London itself.

Re: Priced out of Paris

#35
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

Not all of London's population was originally British - it's quite popular with international multi-millionaires, who don't have to deal with the same restrictive immigration rules everyone else does. Also, a lot of people who're living in London can't really afford to do so; unfortunately it's where most of the jobs are and commuting into London by rail is just as horrendously expensive as living there.

Re: Priced out of Paris

#36
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

Up until shortly, it was also the case that if you were on state benefits (specifically housing benefit) you could afford to live in a nice neighbourhood in London as the state paid your rent for you.

Fortunately this is being capped now so that non-working people will be subject to the same issues as working people.

Re: Priced out of Paris

#37
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

Even if my pay was doubled, I wouldn't be able to afford to live in or near London. However, I can afford a comfortable lifestyle in rural Yorkshire (house, car, holidays, internet access, good food, days out etc etc) on a modest pay packet. The rent for my 17th century cottage with garden in a Yorkshire village wouldn't get me a room in a shared house in an undesirable part of London. I don't understand the pull of…

Couldn't agree more, I live in Newcastle (Upon Tyne) and wonder why all my friends headed down south after uni - for "the salary" was their reasoning but none of them have savings and their salary goes into rent, commuting and maintain an expensive social life. I'd much rather be here in Newcastle and be able to afford to live and save - just wish the weather were a little better

Re: Priced out of Paris

#38
post #25

Earlier quoted context omitted.

Yeah start with that stupid Eiffel Tower its a bloody eyesore!

Unfortunately, the desire to keep historical buildings conflict with the need to add density. Clearly, people should make some tradeoff, but it should not be "never demolish any old buildings".

Paris doesn't really need to add density, it's already one of the densest cities in Europe. Clearly some other phenomenon is at work here.

Very tall residential buildings have surprisingly low densities for a wide variety of reasons: extra building infrastructure, high capital costs result in expensive apartments which price them out of most people's means so they end up being sold to the rich who can afford to pay twice as much anyways for more floor space, etc.

Density:

Paris: 21,000/km^2

Seoul: 17,000/km^2

Hong Kong: 6,480/km^2

Cairo: 18,071/km^2

Re: Priced out of Paris

#39
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

Most young Londoners cannot afford to buy property anywhere near the center of the city any more. I employ several, and see this first hand. In 2001 I bought a flat for (at the time quite a lot of money!) £200,000. I could just about afford it on a developer salary at the very peak of the dot-com boom. I sold it a few years later. Now that flat is worth about £700,000. This article is accurate as far as London is con…

Most youg Londoners cannot afford to buy property full stop. Unlike in the rest of the country, the majority of residents rent rather than own their homes.

Re: Priced out of Paris

#40
post #4

The article talks a lot about cities now being the domain only of "one-percenters" and "global elite". This is demonstrably false. Consider the UK. UK's population: 62 million London population: 8 million 13% of the UK's population, therefore, resides in London. To say that only the "1%" can afford London is clearly not the case. In France's case, 15% of the population live in Paris. Perhaps we can't all live in Lond…

Even if my pay was doubled, I wouldn't be able to afford to live in or near London. However, I can afford a comfortable lifestyle in rural Yorkshire (house, car, holidays, internet access, good food, days out etc etc) on a modest pay packet. The rent for my 17th century cottage with garden in a Yorkshire village wouldn't get me a room in a shared house in an undesirable part of London. I don't understand the pull of…

I keep banging on about how remote working will enable the spread of resort / rural living, and yet it is not quite true.

I am going to guess that you live within some commutable distance of your or your wife's family, and that one of the things you would lose moving to London would be that connection to family.

Its probably the biggest thing holding most of us from heading for a nice cheap rural life.

PS, apply for a grant from the Yorkshire Tourist board !

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