Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Elroy Jetson who wrote (62745)	4/25/2005 2:40:32 PM
From: Moominoid	Read Replies (1) of 74559

I have no doubt that those income effects are the most important determinant of house prices, that and interest rates, but supply side effects also have some relevance... but maybe not in the long-run you suggest... that's interesting. I started off actually as an undergrad and then also in my first professional job specializing in the urban geography area but since went in the environmental economics direction. Canberra is a city I got to like more, the more as I lived there and now remember fondly :) Its population density is lower than the average for the whole country of Bangladesh though. It is amazing that people still tell me that it is always better to buy than rent. Recently I was arguing online with a bunch of people on the website of the Chronicle of Higher Education. Housing prices are low in my area but the property tax alone on a median house is greater than my rent on what for here is a fairly expensive apartment. You don't need any complicated arguments about opportunity costs to see that it is cheaper to rent in cases like these.

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