Home prices and relativity

The City Paper had an interesting take on housing prices last week. Did you know that a 750 square-foot condominium in Moscow, Russia, can run as high as $6 million? Sure, Sylvan Park's home prices have jumped in the past several years, but it could be worse (or better, depending on how you look at it).

"In the early 1990s, when prices in Belle Meade achieved sales of more than $100 per square foot, many thought Armageddon was around the corner. Now many homes in Sylvan Park sell for more than $200 per square foot. In fact, in order to find homes under $100 per square foot, buyers must roam to Buena Vista, a neighborhood north of downtown and near Metro Center."

These days, $100 per square foot sounds like a huge bargain for a buyer and a disaster for a seller. Wow.