- 28 Apr 2017 06:44
#14800816
Soaring housing prices and affordability have been hot topics in Australia/New Zealand these years. But I noted that in other countries, especially the U.S. that doesn't seem to be a remarkable problem (out of San Francisco Bay Area, I know). I have former classmates living in the U.S. so I know how cheap the houses are there, without looking at the affordability index where most American cities are ranked in top part.
Some people attribute high price to high percentage of Chinese migrants, who indeed maintain high level home ownership, especially considering their income level. But that just seems to be part of the story, non-Chinese people are equally obsessive in property speculation, a recent report revealed that almost all Australian MPs have considerable property investments, which explains why the policies they made were never genuinely intended to suppress the housing bubble.
Apparently we cannot say Americans are too stupid to learn how to make money from property speculation. I'd like to see people's opinions from U.S.
Some people attribute high price to high percentage of Chinese migrants, who indeed maintain high level home ownership, especially considering their income level. But that just seems to be part of the story, non-Chinese people are equally obsessive in property speculation, a recent report revealed that almost all Australian MPs have considerable property investments, which explains why the policies they made were never genuinely intended to suppress the housing bubble.
Apparently we cannot say Americans are too stupid to learn how to make money from property speculation. I'd like to see people's opinions from U.S.