I've been looking at the possibility of buying in the US for...

I've been looking at the possibility of buying in the US for some time now but I can't take it seriously.

If a million dollar home in SYD or MLB can be bought for $50K, why aren't the Yanks buying them? I know! They can't afford them. But if they can't afford to buy them with the low interest rates being charged there, how can they pay you rent giving 12% return? (the least I would accept)

The more I look the more I'm forced to believe that the "great middle class" is history.

No way would I convert good A$s into dodgy assets denominated in US$. If I could borrow 80% in the local currency I might reconsider.

I'm not tyre kicking: I COULD buy a number of houses there if I saw a benefit.