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Well, John Oliver got on the bandwagon too.

                                                                      (Photo : Google Maps)   The world's costliest building it has become. Yesterday, "The Center" in Hong Kong - a 73 storey landmark was sold for $ 5bn. Yes, FIVE BILLION US DOLLARS. For a single building. No you are not hallucinating. It really did happen. The Centre was a jewel in the portfolio of Li Ka-Shing. If you don't know who he is, well, he was, and probably is, Mr Hong Kong.  One of the richest men in the world. For long he has symbolised money, power and all the glamour of Hong Kong. This post is not about the old man. It's about insanity in property valuations. Yes land is scarce (anybody who has been to Hong Kong knows how scarce). And yes, it is demand and supply that sets prices.  And yes, it is a free market - nobody is compelled to buy or sell at any price. But even then, it is only right to pause and reflect on what such insane property valuations mean. It means, most of the world...