Real Estate /
Poland's apartment prices continue to fall [1844]
you can pay rent your entire life and never have anything to show for it except making your landlord richer
you have to weigh up whether you want to own your own place when you retire
as you will have trouble paying for the rent once you stop working
The situation with the house prices in Poland generally is that the sellers believe that their house is worth a certain
inflated price and will not budge. It will have to take something drastic like major developers going bust
to kick start price reductions. The developers will get desparate and flood the market with low price new builds.
the build quality will go to hell as they will order inferior windows etc, cut down on cement in the mortar etc in
order to save money
you have to remember that unlike the UK and the States if you cannot pay your mortgage you cannot
walk away and post the keys back to the bank. The bank gets a low price at an auction but at least
they got something and asks the government to bail them out
In Poland a debt collection company will chase you for the
rest of your natural life whilst your house gets sold at the best price on the open market.
This props the house prices up