4 ms·
> Honestly, why do you think house prices in Sydney will double again? In Canada, up until a couple years ago, house prices appreciated 7% per annum on average
by moistly 4y ago
> Honestly, why do you think house prices in Sydney will double again?
In Canada, up until a couple years ago, house prices appreciated 7% per annum on average. That is a doubling every ten years.
In the US, prices have appreciated by 3-4%. That’s a double every twenty years.
Sydney prices will be on the same trend.
- bamboozled 4y agoSo I should just pay $3,000,000AUD for anything I can find because it's only going to double no matter what?
- moistly 4y agoIt will eventually double. Canada’s 7%pa seems high to me, but so it seems to be. Mind, homes are much bigger, more energy efficient, better finishes. I think reasonable home appreciation should be close to the inflation rate. Or better, wage increases. But, yah, even then it eventually doubles. Look up “Rule of 77” for an explanation.