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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (14114)	10/2/2003 10:28:48 AM
From: Wyätt Gwyön	Respond to of 306849

Spek, Marc Faber recently talked about how insanely cheap Thai real estate is. he explained that he had bought up a whole city BLOCK or two in the center of some city, and built an incredible place there. it cost him like $250 grand and that's now where he makes his home and office. this is a guy that could afford to live anywhere. he was describing places going at 1/10 or 1/20 the price they would fetch in the West. obviously it depends on the area, though. Phuket is supposed to be very expensive due to all the Hong Kong money. however Faber said there are many other coastal areas which are just as nice and going for a song. thus i think in talking about Asian real estate it is important to distinguish between what locals making local wages actually buy, vs. some marquis area infested by Hong Kong tourists with too much dough.