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Originally Posted by $5 submissions
However, compare that to the Philippines... 20x vs. 7x
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With all respect, I believe you forgot to count in the devaluation of the Philippine currency. 20 years ago you paid about a third for one Philippine Peso than today, so if you divide 20 by that factor you end up at about the same level as in the US.
While property in the provinces and small towns of the Philippines can be great investments if land is involved, buying property in Manila (i.e. condos) is a big loss. Much cheaper to rent than to buy.