Why Pay $2.4M to Live In This Apartment?

[SeanB]

Why Pay $2.4M to Live In This Apartment?



Thought I should put up what $2.4 million buys you here by me.

[Marco]

Maybe the opportunity cost for leaving it vacant (or on a low rent scheme) for a while makes it worth it just to wait for someone desperate enough?

If the buyers think home prices can only go up, they can start to go a bit silly.

[Scherms]

I'm from Adelaide but I lived in Sydney for 10+ years and the mantra for finding the best place to live anywhere is this...

'When you drive to work have the sun behind you, when you drive home from work have the sun behind you', simples!

I lived here in the 'blue box' area... by rule!

[james_s]

There's a similar condominium in Seattle I saw recently went on the market for about that same price.

This whole area is nuts though, my modest split level house is worth over $1M at this point, which sounds great except all it really means is I'm paying taxes on a $1M house now and that value is only wealth if I sell it. I could be a homeless millionaire I guess.