in eastern europe property prices were up 150% over last 2 years (after joining EU). People take 30-40 year mortgages to buy, but can barely afford a studio flat. And I mean people who are well educated and earning well. And mortgage interest rate is very low now. What will happen now ?
2007-09-15 21:34:05 · 2 answers · asked by Anonymous in Business & Finance ➔ Investing
OF COURSE prices can still go up .. just so long as there are SOME people who CAN afford to pay .
'People' in Eastern Europe have no 'God Given Right' to purchase a Property .. and (in fact) neither does anyone else, anywhere ..
Capitalism only gives those with the money/income the opportunity to purchase what others are willing to sell
(Of course under the Communist System, no one was permitted to own property, and hence all property was worthless .. just go look at the condition of some of the houses in the Eastern block that have had no repairs or maintenance since 1945 to see what I mean ..)
2007-09-16 10:12:04 · answer #1 · answered by Steve B 7 · 1⤊ 0⤋
No.
2007-09-16 03:49:03 · answer #2 · answered by Anonymous · 0⤊ 1⤋