Monday, April 21, 2008

Fun Inflationary Facts

Found out something interesting regarding property prices today.

I live in a smallish one-bedroom apartment, comfortable enough, but just a bit shy of being shabby. It's in a big ugly square gray building with an only marginally-vandalized entrance foyer, in a reasonably central part of town, near some trendy bars, modern supermarkets and restaurants, about a twenty minute walk from the riverside embankment.

I could have purchased this apartment, or a comparable one, for approximately $18,000 - $20,000 back in like 2001, 2002.

It's worth upwards of $150,000 now.

Now of course buying an apartment, back then, would have entailed putting $20,000 into a bag (no such thing as mortgages back then) and giving it to a Russian, which didn't exactly seem like the wisest idea in the world. . .


steve said...

thats crazy stuff eh. I live in the wealthiest per capita country in the world and can get the same for 180,000 (albiet euros). How do the people in your town afford it?

On the brightside, I hear that bags are a lot cheaper in Russia now.

Jason said...

Have you considered getting a briefcase or perhaps a personal security guard?

I have no idea what my apartment would cost but it doesn't matter because I couldn't afford it anyway...