[BITList] Oz expensive!

[x50type]

Yo Dave,
Perth more expensive than hong kong --- wow, that is saying something. Wages must be sky high. What is the mortgage interest rate now? And the down payment?
On the uk scene - I was talking to an old school friend of mine who has a Victorian  terrace house in York ;  I was astounded when he said they are going for abt 450,000 pounds - hell, for that I really can buy a 3 story mansion complete with jacuzzi and room for a pony here! I can buy a nice house here for one third of that.
What is the world coming to?
Ct

Sent from my iPad

On Feb 24, 2012, at 11:37 PM, David Harvey <bison at iinet.net.au> wrote:

> 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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