the problem for the last 10 years has mostly been low interest rates, if you take away that then most of the worlds worst real estate markets, Vancouver To, Melbourne, London etc are a third to half cheaper.
All of these cities will always be the most expensive places to live in their respective countries but its the free money that basically only existing home owners and the wealthy can access that has been the problem. A few years of 6 to 8% will cure most of it
|