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Comment by robswc | Hacker News Reader

It is kinda crazy. I thought Northern Virginia prices were insane so I moved. I always heard that Canadian and Australian housing was "crazy" too but only recently learned that it is mind-blowing crazy.

More housing will have to be built or people will have to move further from population centers. No way the average person is going to afford a $1MM house (not even large, or grand at that).

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Or just wait. There is a lot of inventory out there now, and not much in the way of sales activity. Something has got to give and, as you point out, it isn't apt to be the buyers.

I have no actual data on this, but my feeling is that many/most owners are so overleveraged that selling would be ruinous.

That is for the cities though. It's significantly lower for towns. They have their own infrastructure issues, but the option to move is still there. Seeing how hard it is to get some jobs/repairs done within a few days and based on job postings, it looks like there's work opportunity too.

Overall it'd be cheaper compared to Sydney and maybe one or two other cities, but more expensive than the rest. Plus the obvious, that living in the middle of nowhere can be quite isolating.

"middle of nowhere" is really vague here. I'm not talking about a station in WA not accessible in the wet season. There's a good number of 30k+ towns around VIC/NSW where you can find lots of social contact.

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