House Hunters

There is a show on HGTV called House Hunters. Sometimes this show does another version called House Hunters International where someone shops for a house outside of the U.S. This may be where the person(s) lives or it may be a second home they are shopping for. The person or family will look at 3 homes and at the end of the show it is revealed which house they choose to buy.

It is always interesting to look at the real estate and the prices outside of the U.S. When someone is looking at beachfront property in the Caribbean, it is understandably expensive. But it is really amazing when they look in places like Western Europe. I've seen shows where they show places in Japan, Israel, and several countries in Western Europe. The prices are astronomical. This makes a couple of points for me. First, the standard of living is far lower in other places of the world. Of course we expect this in third world countries, but it is surprising looking at Europe. You will see these apartment/condos that are about 1,000 square feet going for 400,000 or 500,000 American dollars. It would be sub-standard living to most Americans.

The other relevant point is how expensive real estate is in a welfare state. If the U.S. is headed towards being a welfare state like much of Europe, then perhaps we can expect real estate prices to go up drastically in the long-term too.