3 ms·
> it's a hurricane-level force of real-estate it is a hurricane-level force for everything. if you think the situation in Vancouver and Sydney are bad, think
by dis-sys 9y ago
> it's a hurricane-level force of real-estate
it is a hurricane-level force for everything.
if you think the situation in Vancouver and Sydney are bad, think again, think the situation in Shanghai -
a typical recently built 3 bedroom apartment in downtown Shanghai can easily cost you $3m CAD, a typical worker on average Shanghai salary will have to pay no tax, eat nothing, walk to work naked (no $ for cloth) for 300 years to afford that. not talking about luxury apartment with fancy view, just average apartment in an okay area next to busy & noisy roads.
- tptacek 9y agoDo workers in Shanghai generally live in 3bdr condominiums downtown? Because a 3bdr condo in downtown Chicago would also be nosebleed expensive (though probably not 2.3MM USD expensive) too.
- dis-sys 9y agoApartments 8-10km away from central Shanghai costs you $1.7-2m. To get a recently developed unit at $1m price range, you pretty much need to go 20-30km out. It is a cancer.
- conanbatt 9y agoWhats the price/rent in Shanghai? If it's so grotesquely overpriced, why aren't investors jitterish about a downturn? Are they ready to bite a 30% bullet on the investment? Genuine questions, I want to understand the chinese money exodus effect.