THE INSIDER: No brass to blow in Hong Kong
A parking bay there has just been sold for $664,000
The Insider is, in general, fairly satisfied with her little living quarters, save for the neighbour’s child who is an enthusiastic, if not talented, trumpet player. At least, she thinks it is a trumpet. It was thus with some horror that she learnt that were she to pack it all up and relocate to, say, Hong Kong, she would not be able to afford even a parking spot at an apartment complex. A parking bay there has just been sold for $664,000. That’s about R8.69m for an empty concrete box measuring 5.2m by 3.4m. Barely big enough for a flute. Tubers and trouble Down Under It’s been a big week for the Australians. First, "potato rebel" Tony Galati was fined A$40,000 for growing too many potatoes. The king of spuds apparently made about A$148,000 from the sale of an extra 150 tonnes of potatoes he was not allowed to grow and sell. Second, Moody’s downgraded a dozen Australian banks, including the big four, citing growing risks in Australia’s increasingly indebted households. Gone is their...
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