[BITList] Oz expensive!

[David Harvey]

Yup, that is quite correct, prices went through the roof about 5 years ago,
pushed up by speculators and the estate agents and the press didn't help.
Perth is up there with them, more expensive than Sydney or Hong Kong, the
effects of the mining boom. However prices are dropping quite a bit, but
they are out of reach of the ordinary joe and with the present financial
crises in various parts the market is very sluggish. My son (oil rig
worker) had 5 houses and a big mortgage and decided to sell, he struggled
to sell 3 of them and has given up on the other two. The rental market in
Perth is extremely tight and once he decided to rent the two remaining
houses they were gone within hours. It follows rents are also very high,
right across Australia. My other son pays $500 a week for a very ordinary
house in a very ordinary suburb of Melbourne.

Dave

PS I cry when I think of what I sold my home for before the craziness
started.

On 25 February 2012 13:19, <x50type at cox.net> wrote:

>   telly program here – international house hunters; a couple were moving
> to sydney from the usa.
> they were wanting a family home in the sydney area – and were expecting to
> pay $800,000 to 1 million for a nice house [not a 3 story
> mansion].......................
> I did not know australia had become so expensive, particularly the sydney
> area, so I checked to see where it is internationally.
> to my surprise it is the 7th most expensive city in the world just behind
> paris. melbourne is 8th just ahead of singapore..................
> comments from folks living in oz?
> ct
>
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