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EScroogeJr (< 20)

Here is what a real bubble looks like

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April 08, 2008 – Comments (3)

Median household income in England is slighltly higher than 25000 pounds (Wikipedia gives 24700 pounds for 2004). Average house price is now 191 556 pounds. A pound is worth roughly 2 dollars. So the average American house has to cost some $360K-380K in order for us to catch up with England in terms of affordability.

 

3 Comments – Post Your Own

#1) On April 08, 2008 at 11:01 PM, mandrake66 (96.39) wrote:

In the places where most Americans live, that sounds downright cheap.

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#2) On April 09, 2008 at 12:03 AM, EScroogeJr (< 20) wrote:

I suspect that Londoners derive as little comfort from the relative "affordability" of their national averages as we New Yorkers - from our own national average of $225,000 or so. When I read the news about falling prices and compare it with our local trends, I want to walk out on Broadway and scream: "Take me to America"!

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#3) On April 09, 2008 at 4:02 AM, DemonDoug (92.48) wrote:

Nah, no bubble here, move along, move along...

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