Thursday, August 17, 2006

The market may be king - but it is also an ass

I knew that rents were expensive in south Mumbai (though it will always be "Bombay" to us old-timers!).

However, I am startled to learn from an expatriate there that he pays a rent of more than twice what he would expect to pay for similar accommodation in northern Europe (which is much more expensive than the USA)!

Naturally, the laws of supply and demand dictate all prices, unless governments distort them - but you do wonder how stable that sort of price level is.... Sphere: Related Content

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