Monday, October 15, 2007

Hottest Property on the Planet!

Zim property prices shoot by 110 000%
High-density and middle-density properties have risen by between 42 000% and 110 000% since January due to the ever-increasing demand for property against limited supply.

In January, a residential property in the high-density cost an average $150 million and is now selling at between $10 billion and $20 billion.

Medium-density properties now average $105 billion from around $250 million and $300 million at the beginning of the year.

However the average income for a Zimbabwean worker is well below the Poverty Datum Line now pegged at $16.7 million. Many workers including civil servants still earn salaries below $15 million dollars a month hardly enough to make ends meet for an average family of six.


Of course, it is silly to compare Zimbabwe's rising house prices to ours without first adjusting by the difference in our respective Prosperity Generating Currency Debasement Machines™ (i.e., fiat monetary printing presses).

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