http://www.nytimes.com/2008/06/01/business/01town.html?pagewanted=1&_r=2&ref=patrick.net
Imagine you couldnt sell a house like this for that price in Australia...good story...am expecting Aussie papers to start running similar stories soon.
You look at the dog box/mcmansions with a kerb out the front and no character selling for 900k here that have nothing to offer.
Makes you wonder why our housing is so expensive compared to everybody elses, especially when their average housing price is at around 3 times average wages whilst ours is now over 7 times.
Their interest rates are substantially lower, they have less spare land, they have immigration, fuel is cheaper etc etc
Something is amiss here....
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- tell em theyre dreaming
tell em theyre dreaming
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