Life /
Is Poland a poor country? [578]
do try to avoid unnecessary / unrealistic levels of debt.
Same here. If I had a quid every time someone criticised me for not getting a mortgage on a second flat when prices were rising I'd be rich. And if I'd taken that advice I'd probably have had negative equity now and a big headache.
the mindset of why somebody would be asset rich and cash poor.
That seems to be a situation that people end up in - old ladies in huge houses in the UK that they can't afford to heat. There are plenty of people like that in Poland and likely to be more given the rural 1990s building boom with all those vast 3 storey houses.
What do you think drives them to maintain that kind of position?
I don't think the guy in question has much of a clue about anything. He shouldn't have been able to borrow enough to buy the second flat and would be unlikely to be able to pay off the credit (which by the way is in Swiss Francs) by selling it. He's in a bit of a Catch 22 situation. Perhaps he's thinking about his old age