The real estate prices are outrageous, but how can that possibly be?
We have so much land and yet even places such as San Francisco, which is hemmed in by water on three sides, is hard pressed to match the prices here.
The money we got for our nice house in the United States doesn’t even buy a small house here.
When things don’t make sense, I think it’s always worth looking to see who’s profiting from it, and how they could be influencing the situation to their benefit.
Here it seems the property developers seem to be in complete control of the game. The charitable view is that they have managed somehow to convince the WA Government that they are somehow responsible for something positive and need support.
The less charitable view is that the Government has just been convinced that the developers’ money is great.
To me the last straw is the old Subiaco Markets decision.
Sixteen storeys, really?
My father was often in the news- papers railing against these things. I think we could hook up a generator to him spinning in Karrakatta these days.