re: the economist and the housing -sue
yes - good thread, and the topic is raised from time to time. of course a lot of people are interested, as people own property
ok - just accross the street, a duplex pair was sold a month, or two ago, for $680,000. the blocks are now advertised for more than $450,000 each (two blocks from the duplex pair - about 500 sq m each). the buyer who paid the $680,000, of course, is faced with the costs of knocking down the duplexes, and then the costs of subdividing etc etc (hey - anybody on hc, who could give an approx costs on those).
anyway, the duplex pair were built about 30 years ago - so in all reality, the buildings are now worthless - indeed, a liability, as there are costs involved in knocking them down.
the buyer, thinks he can make a couple of hundred thousand on the deal - in a short time - sure has me bamboozled
