The Economist global house price tool

Hi all

The Economist have just released a fantastic global house price tool here.

It allows you to graph global house prices, from 1975 for some countries incl Australia, in real terms, against income, etc.

It's interesting to see that Australian house prices, when graphed against income, are still well below those in some countries. As has often been noted, the price of buying a 4*2*2 on 500m2 within a short commute of say Melbourne's CBD is far below the equivalent cost in places such as London. New York, etc.

The big diff is population.

Thankfully, we don't have the same density as those joints...yet.

Give me an under-performing property market as opposed to a disgusting mess of humanity and decaying human values any day.

You can whack L.A into that mix as well. Keee-reist.

Sadly, I see us being well on the way towards their devolution already.

Some people seem to think that continually expanding the population and density of it is a good thing.

It isn't.