Although house prices across the UK have tended to decline over the past few years, rates for property in London have generally stayed the same - exorbitantly high. In fact, London is not known as the second most expensive city in the whole world for nothing.
The very people that are needed to keep the overall infrastructure of the city going, have been increasingly pushed out of the central areas, where foreign investors and people who have no concern over the future direction of the city have sought to snap up property. This is proving to be a very detrimental issue for the city and the only industry that seems to be thriving as a result is for a London security guard.
No-one is going to do anything about this, of course. Property prices will inevitably continue to increase in the future and our capital city will lose more and more of its identity - not that much remains as things currently stand.
The worrying trend to force the working classes out of the city will also continue and this brings us to wonder how London will actually be able to function in about thirty years’ time. We can only hope that London experiences a sharp decline in property pricing over the next ten years or so.
This would be quite detrimental to the economy of the city, at first, but would prove to be extremely helpful in the long-term. This phenomenon is not restricted to London, however. Other cities such as Tokyo and New York are currently experiencing exactly the same issues.
