Saturday, September 24, 2005

Will Real Estate Ever Go South

I finally got to reading one of my favorite only magazines this morning : Escape Artist Quarterly Real Estate Issue. If you only read it for the entertainment, it's well worth a few laughs to say the least. They usually have at least 1 or 2 articles worth reading. The articles of interest to me were from Antibes and housing real estate in the US.

Here are some shocking facts.

You can buy a mobile home in Malibu California for 1 million dollars, and that doesn't even get you the ownership of the land. Antibes is a great place to visit but if you don't speak a lot of french, well you might just be in trouble. Supposedly the government offers 200 free hours of french lessons for integration. Why wasn't I ever given that option????

As well, only 50% of people in the US can afford a house. That number jumps to only 17% if you live in California! Maybe that's one reason why I don't live there!

While the prices of houses have risen a whopping 40% last year, the increase of wages has only gone up 10.4%. I'd like to know why salaries haven't kept up with housing costs!

With an average price of more than 800,000 in Switzerland, I'd still say it's a toss up between California and Switzerland for high prices of housing. Well that might be out done by Singapore or Japan...

Makes me think I should get running onto other things for the day....

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