Real estate is local..national..global?

Real estate is local..national..global?
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Real estate, in many respects, really is local.  Professionals knowledgeable about the local market are often the most successful.  Real estate is still often discussed in national terms.  The housing market in America did this, housing throughout the country is booming, housing throughout the nation is in a slump, etc.

But once in a while we need open our eyes up just a bit further...and look globally!  Why?  Just to be informed...see whats going on in the rest of the world.  With that said, I just came across this article from money.cnn.com.  What is it?  A discussion of the world's most expensive cities.  Now, one must note that this isn't just in terms of real estate - it effectively looks at cost of living.  But guess what - real estate is typically a pretty big part of that.

Thought New York was expensive to live in?  Its only the 15th most expensive city to live in.  How about San Francisco?  54th.  Most expensive?  Try Moscow.  2nd-4th are London, Seoul and Tokyo respectively.  Wow, if New York is the 15th most expensive, who can afford to live in the top 5?  I certainly doubt I could.  Interesting, huh?

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
http://www.homesphx.com