Subj : Re: 3.5 weeks to being la
To   : Spectre
From : boraxman
Date : Sat Jul 23 2022 11:42:17

 Sp> Those prices will be inflated by the Toorak and Sth Yarra McMansions
 Sp> though an area you'd expect to be paying more for so you can la de da
 Sp> down the st reet sippin' on your chai mocha latte...
 Sp> 
 Sp> If you took the, I was going to say most expensive 2 or 3, but probably
 Sp> 4 or 5 these days, that average would fall pretty significantly... There
 Sp> are houses local here that are back under $500k... but as you say
 Sp> they're almost the dumpster fire end of town.
 Sp> 
 Sp> Spec

Indeed they do skew the average, but they would have also skewed the average figures in the decades prior too.

People do say that suburbs improve and gentrify (partly true), but the issue is that the 'cheapest' are further and further out, and that is an absolute disadvantage, not a relative one.

In the 60s, Avondale Heights was the 'suburban fringe'.  Now it is something like $600K for a house, often around $700-$800.

It's a bit like the frog boiling slowly. You get used to a decline, and the degraded conditions become the 'new normal'.

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