It's only around $4600 a sq ft. for a house in London

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<p><a href=“http://news.yahoo.com/s/afp/20070508/wl_uk_afp/britainpropertysectorlondon;_ylt=At8vbZaVg8N0gTdnX39Q2zYDW7oF[/url]”>http://news.yahoo.com/s/afp/20070508/wl_uk_afp/britainpropertysectorlondon;_ylt=At8vbZaVg8N0gTdnX39Q2zYDW7oF&lt;/a&gt;&lt;/p&gt;

<p>LONDON (AFP) - London beat the glamour of Monaco, New York, Hong Kong and Tokyo to become the world’s most expensive place to buy residential property, a survey showed on Tuesday. </p>

<p>Residential property in the British capital costs on average 2,300 pounds per square foot, or 36,800 euros (49,889 dollars) per square metre, according to the ‘Wealth Report 2007.’</p>

<p>That beat nearest competitor Monaco, where property costs an average of 2,190 pounds per metre or 35,000 euros per square metre.</p>

<p>Studying abroad in London might be a cheap way to live in London for a short while.</p>

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<p>The vast majority of English folks do not own their own homes, and never have. Home ownership has never previously been thought of as a good investment, and there are virtually no tax breaks for home ownership, and property taxes are high. There are just different assumptions about how one invests and spends money.</p>

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<p>I have never looked at property taxes in London.
I remember there was a football game being televised and the network filmed a panoramic shot of SF and one of the commentaters said, “Look at all the houses. Does everyone live in a house in SF?”</p>

<p>A friend just got back from a trip to London and said hamburgers are $24 at restaurants. I’m sure there must be some cheap places, but it sure sounds like London is a very expensive place.</p>

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<p>Maybe that’s why home ownership has been called the American dream?</p>

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<p>I returned from a trip to London 2 weeks ago.</p>

<p>A 16 oz. Coke was 1 pound, or slightly over $2.00!</p>

<p>I just about choked, but I got it down in any event…</p>

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<p>Mini talks through his hat. About 71% in England own their homes. Close to the US level of …71%!!!</p>

<p><a href=“http://news.bbc.co.uk/1/hi/business/6494901.stm[/url]”>http://news.bbc.co.uk/1/hi/business/6494901.stm&lt;/a&gt;&lt;/p&gt;

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<p>An artifact of the selling off of council housing. (Much lower in London.) But I think it would be GREAT if the government would build housing and sell it to poor folks at subsidized rates!</p>

<p>(in the U.S., it gets interesting when one disaggregates home ownership by race/ethnicity. Same with health care.)</p>

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<p>Keep backpedaling Mini. I’d bet minority ownership in England is even lower than the US–but I’ll admit I don’t know–unlike some.</p>

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<p>We lived in and owned a home in England. Alll our neighbors owned their homes. We purchased it in 1985 for approximately $100,000. Sold it in 1988 for approximately $300,000. Went back last summer to visit old neighbors. Our house had just sold for just under $1,000,000.</p>

<p>Everything there was outrageously expensive. I don’t know how people there afford anything.</p>

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<p>well when the pound is worth over $2, its pretty easy to figure it out…</p>

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<p>Is $2 really a lot for a 16 oz coke? That doesn’t seem so bad at all, just a nasty exchange rate. Just go to Iceland!</p>

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<p>well a 12 ounce can is 60 cents, and a 16 oz bottle is usually $1 or $1.25 so $2 for a 16 oz fountain soda is a lot…</p>

<p>hell most places sell a 32 oz fountain drink for $1.50</p>