[quote=enron_by_the_sea]Looking at table 5, seems like only USA and Canada has “affordable” or “moderately unaffordable” housing markets. In fact 77% of US and 73% of Canadian markets seem to fall in that catagory.
All markets in Australia, New Zealand, Ireland or U.K. are “seriously unaffordable” or “severly unaffordable”
– edit Data is from Q3-2008
I think that’s part of the equation we have to deal with here in Socal, the Asians and Europeans (to a lesser extent) come here and think it’s ridiculously (or at least reasonably) cheap.