China Ceramics Co. Ltd. (CCLTF)

[redman_2014]

Manhattan townhouses average $1,111 sq foot.

If my home was priced at that level it would be worth almost $2.5M, and well it definitely is not(probably 1/8th that price):(

And that's after a 31.9% haircut from it's peak of over $1450 sq foot. My home would be worth over $3.2M at that price :)

Manhattan property is so expensive because there are enough high-earning individuals around willing(and able) to pay those rates. And I'm sure many in the U.S. a few decades ago thought Manhattan was in a housing bubble when they saw the price climb ever higher. The same thing will happen to Beijing(and is happening). I think there is even a chance Beijing will eventually be even more expensive than Manhattan.

'The 2009 median sales price of a Manhattan townhouse, defined as a 1-5 family residence that can be delivered vacant, fell 31.9% from the record set in 2008 to $3,400,000 from $4,995,000. The other price indicators showed a consistent trend over the same period with average sales price falling 32% to $5,012,736 and price per square foot falling 31.2% to $1,111.'

Read more: http://www.businessinsider.com/manhattan-townhouses-now-priced-32-of-the-peak-2010-2#ixzz0l8xzEekS


-Adam


I will stop my diversion into housing and wages now. Sorry for the rants and multiple posts. Sometimes I get on a bit of a run and find it difficult to shut it off =0