Some perspective from down under
I moved here from Australia in 2000, so of course I still read the news there.
http://www.smh.com.au/articles/2008/03/ ... 28730.html
It says here that prices are rising 26 percent a year in Adelaide. Now Adelaide is a nice city, but how is it that people are ignorant about what effect it will have for prices to rise that fast?
The problem is that Adelaide looks cheap next to Sydney, which has some suburbs bursting and others that refuse to drop prices. What an odd market.
http://www.smh.com.au/articles/2008/03/ ... 28730.html
It says here that prices are rising 26 percent a year in Adelaide. Now Adelaide is a nice city, but how is it that people are ignorant about what effect it will have for prices to rise that fast?
The problem is that Adelaide looks cheap next to Sydney, which has some suburbs bursting and others that refuse to drop prices. What an odd market.
Comments
Australia had a bubble before the US did, so we should learn from it.
Britian is having their bubble burst now as well.
America, the land of "opportunity" and the free, really looks like a bunch of spoiled brats with no manners screaming at the top of their lungs "I want more" and not being held accountable for their greedy actions. Let alone taking words of wisdom from another country~