Biotech Values

[Jonathan Robinson]

I want to chime in quickly to say that size of house also is partly a function of urban/suburban/rural mix. Obviously apartment dwellers will have less space than others. In NYC for example, 1000 sq ft will cost you $1.5-2 MM along with a $1-2K monthly maintenance/tax bill. For that same money, you can probably get a 4-5000 sq ft house in many non-coastal areas.

I live in HK, have 1750 sq ft and a family of 4 with 2 full-time helpers (standard here for helpers). It is a bit cramped but we have enough room (barely). I would find it absolutely impossible to move up in size without moving to less desirable area given pricing. Most 2000 sq ft places in higher end areas are $2.5+ MM with rents of $8-10+ K per month. The problem here is that the number of properties with more than 1,000 sq ft is very small and rich foreigners are scooping them up as the USD depreciates (and with it the HKD) and as interest rates here go down with US rates. Apt prices have gone up 15% over the last month and a half on HK island.

I would suggest this is what many Americans love about US - room to get more space at less cost.

Jon