Thanks doc, saves me from cracking open that Statistics for Idiots again
While we're into measures of central tendencies.... see? I too have learnt statistics in Research Methods I, and II... what's the mode [most frequent] wealth you reckon?
You still haven't answered what's the median wealth for Aussies in Sydney and Melbourne where the median house prices range from $800k to $1.2M.
Range... that's another statistical term. Thought I should throw it in there
----------
Was mentioning my neighbourhood because while house prices goes sky high, the majority of the people around it are not your latte sipping, beamer driving socialite. There are some who does pretty well, as far as I can tell by the cars and house they do live in... let's put it this way, there are people who buy those who can buy $5k to $10k Louis Vuitton handbags, but they have to cover it in a shopping bag and let their husband holds it while going about town.
That's a bit much since the snatchers would just assume it's a fake anyway. But you get an idea of the neighbourhood I'm talking about.
While we're on a tangent, there's this moderate 5 years young McMansion by the creek, in a 100 year flood zone, listing for $1.9m. It didn't sell a couple of weeks ago and just yesterday I saw they increased the asking price from $1.8m.
Same deal with this other knock-down but you can buy and rebuild your dream home... some 850m2 and can be yours from $900k. Up from $800k last a couple of weeks ago.
When you can't sell it, make it more valuable is the way.
