milky
11 Sep 2010
Real Estate / Poland Housing prices in July 2010 [129]
All these property sites saying that property price are set to improve in 2011, is a sort of doublethink,to improve in their game means for the bubble to get even bigger. Even though from a vast majority perspective to improve would mean the bubble to burst. Its like the government stating on the news that electricity bills in 2011 are set to improve,would this mean they are going to go up??
The reason for the bubble is emigration to the the west, this is obvious,the other factors played a part, but not a major influence.
I think one of the reason for the bubble surviving in Poland may be due the amount of money actually saved by Polish people working abroad as opposed to the living on credit mentality of the rest. A large percentage of the property purchasing population still have a sack of cash and the sellers know this. It all a game of poker now. The sack of cash is emptying and developers are going into massive debt.
All these property sites saying that property price are set to improve in 2011, is a sort of doublethink,to improve in their game means for the bubble to get even bigger. Even though from a vast majority perspective to improve would mean the bubble to burst. Its like the government stating on the news that electricity bills in 2011 are set to improve,would this mean they are going to go up??
The reason for the bubble is emigration to the the west, this is obvious,the other factors played a part, but not a major influence.
I think one of the reason for the bubble surviving in Poland may be due the amount of money actually saved by Polish people working abroad as opposed to the living on credit mentality of the rest. A large percentage of the property purchasing population still have a sack of cash and the sellers know this. It all a game of poker now. The sack of cash is emptying and developers are going into massive debt.