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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: regli who wrote (45982)2/7/2006 2:43:42 AM
From: mishedlo  Read Replies (3) of 116555
 
Sydney vs. Atlanta
An international survey published last month by an American public policy consultancy, Demographia, showed that despite recent price falls, Sydney was still the seventh-most expensive property market in the world. It takes 8.5 times the median Sydney income to purchase the median Sydney house, compared with 7.9 in New York, 6.9 in London and 6.4 in Melbourne. In Atlanta, it was just 2.8.

The report's authors say a ratio over 3.0 is unaffordable, and rate Sydney in the "severely unaffordable" category.

smh.com.au
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