Real Estate /
Poland's apartment prices continue to fall [1844]
globalpost.com/dispatch/poland/110204/poland-economy-public-debt
From this article:
Poland's lucky streak has ended as it grapples with rising public debt and a stubbornly high budget deficit - while continuing to borrow money abroad.
OK
a Polish factory worker still makes about a fifth that of his German counterpart for essentially the same work.
OK
Real estate prices have settled down. The average price of apartments dropped by about 10 percent in 2009, a reaction to the collapse of real estate markets in western Europe and to the fact that average prices for a square meter of living space had soared above $3,000, putting housing out of reach for many average earners. However, since then the price falls have stopped, and buyers are beginning to return, helped by a government program aimed at helping poorer families buy their first apartment.
Is this 'government program' (Government/Developer scam)not just collusion with developers and their hyper inflated prices? Why not allow prices to settle naturally? and should the government be spending money to help developers?
"We're starting to see some life come back into the market. The crisis is definitely over for the sector," said Kazimierz Kirejczyk, head of the Reas property consultancy.
LOL....
youtube.com/watch?v=M_AZBQEvhYc&feature=related