I was just reading the paper this morning while eating a muffin (not nearly as yummy as our beloved Saturday morning Bloomingfoods muffins!) and found an interesting article about housing prices here.
Here are a couple of quotes that will make Americans happy to be living right where you are (assuming relatively low priced housing is what you value):
"A million dollars doesn't buy you a decent house in a lot of suburbs these days."
"The options in South Melbourne would be slim to non-existent for a renovated house at the $1 million mark, although there could be poorly positioned, unrenovated houses available."
"It will buy you an unrenovated, double fronted weatherboad home but it would be on a small block of just 250 to 300 square metres."
The apartment we're in is in a suburb in South Melbourne called Brighton and it has the distinction of having the highest priced properties in all of Melbourne. The median priced home is $1.5 million. Joe and I enjoy sitting at the outdoor cafes and watching the expensive cars driving up and down the street.
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