Pathways to property?

James Guthrie had some fun at the expense of young bankers last week in the FT.  Apparently, London rents are too high for even them!  He suggests that they may even have to consider living in some of the less plush areas of London

As to living south of the river — don’t even go there…Faced with this unfolding humanitarian crisis, it is natural to wonder what Bob Geldof is up to. Could he be prodded into reprising Live Aid? Trainee bond salespeople might then benefit from the proceeds of a song with the tear-jerking refrain: “Do they know it’s bonus time?”

If the existence or extent of a bubble in the London housing market came up in one of our exam papers, it would have more than theoretical relevance to our current cohort of real estate students. One very capable international student (also working part-time for a major practice) told me last year that she had no intention of going for a graduate position in London since she’d still need financial support from her parents.  It doesn’t bode well for the various initiatives around that are trying to encourage students from lower income backgrounds into the profession.

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