Tuesday, October 28, 2014

It doesn't add up, but let's do the math anyway

The print edition headline.  Why London's Not For the Likes of Us, by Joe Nocera.   (The New York Times, 10/27/2014)

The much blander online headline:  London's Housing Boom.

The "village" Nocera is referring to is where the 2012 summer Olympians were housed.
The village’s cluster of affordable homes was available to rent at 80 percent of market rates, which meant that they cost between £1,244 and £1,688 a month (about $2,000 to $2,700). The average annual salary is £26,500 ($42,600). The numbers just don’t add up.

Bonus London round.

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