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Posts by peterweg  

Joined: 16 Feb 2007 / Male ♂
Last Post: 19 Jun 2020
Threads: Total: 37 / In This Archive: 22
Posts: Total: 2305 / In This Archive: 1651
From: London, Battersea, Krakow.
Speaks Polish?: no
Interests: Motorbikes, Skiing

Displayed posts: 1673 / page 38 of 56
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peterweg   
23 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

because any idiot can put something there and edit it.

Yes, so why mention it? Everyone knows to check the sources if you refer to Wiki, else don't use it as a reference.

learn

See page 32 for the crash in residential prices.
peterweg   
23 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

what data? wikipedia? where is the data?

Whats the obsession with Wikipedia?

Could you provide a link to this information? To "Save" the Spanish economy?, Spain has only been reported as having problems in the past year? How many people, have been buy property, off-plan, in Spain recently? I was not even aware that they were carrying on building. The reason Spains banks are in trouble is because of the money they lent to developers.

Can't you do your own research?
thespainforum.com/f344/bank-guarantees-spain-petition-finca-parcs-action-group-334162
telegraph.co.uk/expat/campaigns/spanishplanningscandal
typicallyspanish.com/news/publish/article_26962.shtml
news.kyero.com/2010/08/03/holding-spanish-banks-accountable
bankguaranteesinspain.com
telegraph.co.uk/property/expatproperty/8577821/British-government-offers-hope-to-property-buyers-in-Spain.html
thespainforum.com/f202/developer-sold-properties-licences-bank-guarantees-140979

osting and not knowing the facts seems to be one of your little foibles. Show me one post that I have made where I have lied, or, STFU and stop making yourself look foolish.

As per usual you miss-understand the reply and edit out the rest of the thread. And throw in a few personal insults to boot, while saying nothing.
peterweg   
23 Mar 2012
History / History of European and Poland's anti-semitism [192]

'Anti-Semitism' still strong in Europe, Poland, new study finds

Look at this.

61 percent of Poles surveyed said it was "probably true" that "Jews are more loyal to Israel" than their own country;

Ask you self; Why would you need to ask that question and why would a positive answer be 'Anti-Semetic'? If Jews are integrated into a country they surely don't need to do a survey defining themselves as different, and there the question simply wouldn't exist. Jews have another country, Israel and being Jewish identifies them with it. Is there something wrong with this?

The other questions are.. wacky.

wbj.pl/article-58532-anti-semitism-still-strong-in-europe-poland-new-study-finds.html
adl.org/Anti_semitism/adl_anti-semitism_presentation_february_2012.pdf
peterweg   
23 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Please don't go attacking McDonalds now, is nothing sacred. Supersize me, one of top misleading films everywhere. It isn't the healthiest food, but it really isn't that bad (with the salad instead of the fries).

Indeed, a McD server would offer better property investment advice than someone with a vested interest in property.

you shouldn't listen to what a dr says because they work in the market?

You are equating yourself to the level of a 'professional' . The property market is not full of professionals who have an expert opinions based on qualifications and experience. Its full of people who have a 100% need for ever increasing asset values, even though markets go up and down with equal certainty.

There is no skill involved in predicting property markets, they go up and down with monotonous, predictable reliability. Guessing the precise turning point up or down is the skill. However you and Avalon obviously have no expertise (that you will admit too) as there is only one way, up, in your opinion. Pretty much the same bull we hear from your entire 'profession' (lol). One professional is Jon Hunt (Foxtons), he sold up when he knew the game was up.

The rest of you are clueless ****wits, if you believe your own bull****.

If prices did fall by any significant level, there is an enormous amount of money on the sidelines waiting to take advantage of this situation.

There is about $4 Trillion of QE sloshing about to be invested somewhere. This is how bubbles get formed and a similar situation after the dot-com boom cause the 2008 crash.
peterweg   
23 Mar 2012
News / Anti-Polish propaganda (proposed change to Polish property restitution laws) [21]

Jews can be oversensitive at times.

An article on the subject from yesterday.

haaretz.com/print-edition/opinion/guilt-tripping-the-world-is-dangerous-for-israel-1.420111

But Sue Adams, from the training centre, defended the choice on the basis that the word meant "an invincible leader" in Polish.

Does it? According to my wife it means slaughter/mass death. A good name for a horse though, similar to Tsunami. Or death.
peterweg   
23 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

I'd take the village idiot's advice over that of anyone involved in real estate. Stupid advice is better that bare-faced lies.
peterweg   
22 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Pip

You, your husband and Avalon are involved in real estate, which makes you opinion worthless, especially when you make counter-intuitive and nonsensical claims about the state of the market.
peterweg   
19 Mar 2012
Travel / "Cool Katowice" - a viable alternative to Kraków? [18]

Skyscanner show prices for budget airliners again do they? I dropped them many years ago when they did that, just shows what a stupid move it was.

Nobody I know wants to spend any time in Katowice, the feeling is its a place to avoid. I wouldn't say Krakow is over run with anybody, but its good for SkyScanner's business to promote other destinations.
peterweg   
17 Mar 2012
Law / ARE POLISH PUBLIC SECTOR WORKERS INEFFICIENT? [6]

Naming a director who can't even write a formal letter??

Its a bog standard letter edited to use your name, I doubt a director did it and I doubt you are important for them or us to give a flying **** about a sloppily written letter.
peterweg   
15 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Is that a serious figure Harry? If so, then I am astonished any flat could be had in Greenwich for that amount. What's the catch?

Its Thamesmead, they abandon property there. Very poor transport infrastructure, so only good if you are long term unemployed and into stabbing, shooting and shooting up.

Thamesmead competes for being one of the worst places to live in the UK.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

the generation now in their 50's have more or less screwed up the people in their late 20's nowadays.

Yep, to some people thats becuase of their hard work, when in reality is simply good luck.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

List of countries by change in house prices

Poland, 46th. -6.6%

A little piece of advice: don't comment on something you know nothing about. The people I mentioned are a hardworking couple who don't have holidays.

I know my comment was ridiculous.

It was aimed at Harry, who apparently believes working harder and giving up holidays is the solution.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

I had a chat with a depressed friend today. She and her husband took out a 25-year, 195K mortgage on a flat a year ago. They both work, and pay over a thousand a month to the bank. After their first year they've reduced their capital repayment by....100 PLN. Poor buggers.

Lazy *******. They should give up their holidays, that will pay the mortgage in no time.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Took me five years (and then some years with a mortgage, which is now paid off).

Lucky you, buying while prices were low. You couldn't do the same today could you?
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Is that why property is still selling? or are you saying that only millionaires are buying houses and apartments?

Sales volumes (Mortgage Approvals) in the UK are at half their pre-crash levels.

bankofengland.co.uk/statistics/Pages/li/2009.aspx

brickonomics.building.co.uk/2011/10/2011-is-set-to-be-worst-year-in-decades-for-uk-house-sales

So property is still selling, just far less than before.

I bought a property less than 3 years after starting to work full time. Not difficult, provided you're willing to work hard to get it. I'm not a millionaire, sadly.

That makes you unusual.
peterweg   
14 Mar 2012
Food / Corned Beef in Krakow [7]

RobArchy
I've got few small cans of it if you want to pick it up. Nobody likes the stuff. PM me.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Why should you be able to buy a property when you leave school? Surely you should have to work and earn money first?

I'll explain.

Leave school, get a job, work for most of your life and still not be able to afford to buy.
peterweg   
14 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Is the Olympics actually pushing up the prices?

Hotel prices are up for the two weeks (which could backfire), no effect on house prices.

But one can get a one-bedroom flat in Greenwich for £63,000.

Thamesmead. They can't even give away some places there. Its a very notorious dump. See a 'A Clockwork Orange'.

Again, its irrelevant, we are talking average, used a a guide, not 'exceptions that prove the rule'.

Going to be very interesting to see how the new housing benefit cap affects property prices in London.

It will affect yields all across the property market - its a negative feedback loop, so house prices will go down and keep going down.

Only because the rents are paid by the government.

More becuase they are the only anywhere near affordable properties anyone starting a professional life a can afford. A degree, a good job and a student loan and in ten or fifteen years of saving a couple will be able to buy a ex-council flat.

People like you and Harry would never be able to afford to buy in London if you left school today. Unless you had a rich parents.
peterweg   
13 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Only because the average is dragged so far down by the inner-city sink estate toilets where packs of feral children roam.

Utterly irrelevant, its why averages are used.

Besides, a two bed house in a 'feral' central London location still costs £200K
peterweg   
13 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

So in other words, people living in tourist destinations earning service industry wages can't afford to buy a property. And what is new there?

Nothing new, just utterly bonkers.

In Warsaw a small property costs eight times average earnings. In Katowice its four times earnings, so the cheapest town in Poland is comparable to the UK average P/E ratio, and Sopot has property three times the UK average.

London, the most expensive city in the UK and arguably Europe has significantly more affordable property (6.4x earning) than Warsaw, even though London is a safe haven investment for the world and much lower interest rates,.

mortgageguideuk.co.uk/blog/house-prices/house-prices-income
peterweg   
13 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Eight years of saving (earnings) to buy an apartment in Warsaw

Home Broker has compared apartment prices in various Polish cities with the incomes of their residents. The results are not too optimistic, especially for those who live in Sopot. The average citizen of this popular tourist destination earns nearly zł.2,800 per month. Such a person would need to save for 11.6 years before he or she could afford a two-room apartment at an average cost of zł.390,000, Rzeczpospolita reported, citing Home Broker's survey.

And this means saving every single złoty you earn. It gets slightly better in Warsaw where the average net salary is about zł.3,300 and the average cost of a two-room apartment is less than zł.320,000. Eight years of saving and you can have it.

Katowice turned out to be the clear winner of the ranking. Local residents, with their average income at zł.3,200 per month, would need to save for fewer than four years since a two-room apartment there can be bought for as little as zł.144,000.

wbj/article-58421-eight-years-of-saving-to-buy-an-apartment-in-warsaw.html
peterweg   
9 Mar 2012
USA, Canada / Would like to move back to Poland from New York after living in USA for 20 years. [155]

Would you move to Poland in 2012 for one year to see if life has a different meaning if you were in my place?

Yes, why not.

I'd suggest Warsaw is close enough, best paid jobs. My father in law comes from Masuria and as much as a hardy forester he is, he did say it was too cold in winter there.
peterweg   
8 Mar 2012
Travel / Tell me all about Krakow! [42]

When it will be open again?

As a hotel, never as its a condition of the sale that it cannot be a hotel.

By my calculation they are getting 6.5% return on the advertising hoarding so they will not be in a rush to do anything until they can get permission to build what they want.

So I suspect its going to be rotting for 20 years. Pity, I live just behind it and would love to see the thing demolished and a nice modern shopping mall in its place.
peterweg   
8 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

Warsaw nabs no. 2 spot in Europe for property investment attractiveness

Warsaw is the second-most attractive city in Europe in the eyes of international real estate investors, according to the "Real Estate Investor Intentions" survey that CBRE announced at the MIPIM 2012 property fair in Cannes, France, last week.

The Polish capital (chosen by 12 percent of the investors polled) ranked only lower than London (37 percent) and higher than cities including Paris (nine percent), Munich (eight percent) and Berlin (seven percent).

According to Colin Waddell, managing director of CBRE in Poland, Warsaw has benefited from the resilience of the Polish economy.

"The position of Warsaw among the most desired property investment destinations in Europe reflects Poland's well-deserved perception of a market with strong underlying fundamentals, able to weather global and European economic volatility," Mr Waddell said in a statement.

"The number-two score of the Polish capital, right after London and before Paris, Munich and Berlin, presents an optimistic outlook for developers and investors engaged in the Polish market, as well as for those intending to make an entry," he added.

In terms of countries and entire regions, the UK is the most attractive real estate market for investment in Europe (31 percent of respondents), followed by Germany (27 percent) and Central and Eastern Europe (19 percent), the CBRE study said.

wbj/article-58347-warsaw-nabs-no-2-spot-in-europe-for-property-investment-attractiveness.html
peterweg   
8 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

You did what was right for you at the time.

In fact the time to buy is obvious and determined by economic factor completly outside any one individual. The ability to buy at that time is down to the individual - i.e. don't be up to your neck in bad debt or unemployed when the market turns.

The point is that Peter used the surplus cash you say you'd have from renting as opposed to buying with a 100% mortgage (i.e. 1000zl per month) to calculate that after 30 years one would have 1.175 million zloty. But if one buys, one spend the same amount every month and ends up with a property worth (using a conservative growth rate) of 1.553 million zloty.

I agree the figures I gave are unlikely to continue - 7% interest rate is too high long term. Wages are like to rise significantly in real terms (in relation to Euro/Dollar/Yen) and with it rent and house prices. So long term property should be a better bet than saving as you can leverage the profit with a mortgage.
peterweg   
7 Mar 2012
Real Estate / Poland's apartment prices continue to fall [1844]

What has that rant got to do with the rise in value of your house in the UK?

Anyway, it does hint that you don't think the UK can continue that run of property value increases - you moved to Poland. A good move.

exactly what? so paying rent for 15 years and having nothing to show for it is better than having a mortgage?

Using ladykangaroo's figures, putting the 1000 pln monthly saving on the rent into bank account for 15 years and getting 7% interest will give you 313k pln at the end of it. Over a 30 year mortgage you would have 1.175million zloty in cash in the bank.