Interesting Article on Polish Real Estate

BubbaWoo 33 | 3,506

6 Feb 2008 / #31

aligator_s

i agree with what youve said, and the results that irresponsible borrowing can have on individuals lives is tragic, but heartless as it may sound i find to sympathise too much with those who do - they must take responsibility for their borrowing

brokers number pmed - its not for the public forum

aligator_s - | 77

7 Feb 2008 / #32

aligator_s wrote:
To even suggest that the price of real estate will not grow exponentially smacks of a lack of patriotism.

What are you talking about ? Most people here would love to see prices going down.

Deise 07 wrote:
Global Housing bubble

There is no "global market" in this case.

I know I should stop rising to the bait but i cannot help myself :-)

why do you think that falling house prices and the hardship that will befall the Polish economy is a good thing?
I am sure that everyone would just love to see the prices come down as it is a sure sign that the Polish economy is knackered or that investors have lost faith in Poland as a country or perhaps kind developers will just build lots of homes at cost price rather than the 40% profit that they usually charge;-)

why do you think that there is 'no global market' in this case?

Buddy 7 | 167

9 Feb 2008 / #33

Dustmen who have declared £60,000 salaries because the mortgage broker told them that it was the only way they would get on the property ladder and because in the next breathe who told them that the price of property always goes up. that coupled with Property Porn with Sarah Beeney or some other soppy tart telling the viewers that any monkey can become a property millionaire you just need to borrow a shed load of money, install a new kitchen and paint the walls magnolia then you are laughing.

This I think the chances of a Subprime morgage crisis in the UK is a very real possibility.

I know in London lots of seriously unscrupulous morgage brokers who have helped many of my friends on to the property ladder but I fear this will blow up in their mugs.