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0 pointsbrador12y ago0 comments

Isn't there a thing in London about people subletting every part of their property to bus loads of migrant workers?

3 bedroom place then becomes a 6 rent unit property off the books. That would explain part of the rocketing prices. I've known chinese nationals who stayed 15 to a london property. All cash. Authorities do nothing and some are in on the shuffle taking kickbacks.

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anu_gupta12y ago· 3 in thread

> Isn't there a thing in London about people subletting every part of their property to bus loads of migrant workers?

No.

1. This isn't a widespread thing. No idea how you've decided that it is.

2. How does overfilling properties lead to rising prices? If anything, it would serve to keep prices lower.

3. Which authorities are "in on the shuffle taking kickbacks"?

nmridul12y ago

>> 2. How does overfilling properties lead to rising prices? If anything, it would serve to keep prices lower.

When one family rents a 2 bedroom flat, they may be able to afford say 1K (husband and wife working). But when the same flat is rented to 4 singles, they might be able to afford 2000. Each person's share is just 500. So when the landlord asks them 1200, they would happily pay for it as the effective rent per person is only 300.

YokoZar12y ago

What you are saying is that the primary driver of price is ability to pay. This is basically a claim that the market isn't competitive at all. That's a fairly strong thing to say, as even a vastly under-supplied market can be competitive.

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sireat12y ago

This overfilling is pretty widespread across most nationalities just getting by in London, if you go by anecdotal evidence.

A friend of mine lives somewhere in North London (I believe it is Golders Green), paying 1300pounds a month for 2 and half room apartment, paying council tax and so on, all on a minimum wage as a porter which is around 1200 pounds a month(why he prefers being a porter over a Perl programmer that is one of his skills is another question).

If he were not subletting the room and half, there would be no way he would be able to work in London for a minimum wage. The situation is similar to most people working for minimum wage that he knows.

Still, I think this overfilling is a symptom not the cause of high property prices. This overfilling by the poor has always happened in big cities.

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