News / US dollar still falling... Change in Poland? [37]


I don't think things will improve, in a thread going back 12 months I predicted the US$ falling to to a 2.1 ratio..(nobody listened).... best options are to sell out in Poland and take advantage of the $ or pound, you will be able to take home more pounds and dollars and start a new life in the west...ho hum.

Or stay in Poland and watch the developers go to the wall and see prices go down again. Although the recession has struck the US, it remains to be seen what it does to Poland...undoubtedly it will not be good.

I await those in the real estate business to respond and tell me Poland will grow by 6/7% in 2008.

Real Estate / Global Housing Collapse Spreads East [8]

I have been telling forum members for the last 2years that the Polish Real Estate is over priced and a correction will have to take place, can I make a few points, firstly the reason why the housing market in Poland will crash is mainly because of the low income of Polish workers and lack of money coming in from a depressed US economy. The situation is different in Ireland which I will not go into now.

Without a doubt homes in sort after areas (location, location, location) will hold there own as will commercial properties in sort after areas, ie shops.

Without causing a scare campaign some well known property developers are on the verge of bankruptcy, further I have heard some buildings build by these cowboy companies have developed structural damage as a result of faulty workmanship and will have to be demolished in the near future.

A lot of speculators will have burt there fingers in Polish Real Estate, the smart ones have cashed in and moved on to greener pastures, ie other eastern markets.

Lets make no mistake those who have speculated on Polish Real Estate must now be heading straight to the cupboard for another stiff drink.