PL: Weak apartment sales

Transaltion is done by me so it is poor :wink:
link is here biznes.interia.pl/nieruchomosci/ … 99895,4206

I would guess Ireland had similar announcements in 2007…

September, what’s your opinion on the economic outlook in Poland? Are the reports of the economy improving (as mentioned in reports of Poles heading home) exaggerated Irish-stylee? Will a property downturn take the economy with it?

Is Poland different? :wink:

The “second half” of the year, the last refuge of a property soundrel.

I’m not economical expert so I really do not know if property can influence strongly overall economy. Average earner has been priced out of market for many years, investors are usually foreigners, so it may not affect customers that much. If you look at stats, Poland is still building less than in 70ties but apartments are for long days on the market. We need greater supply to bring prices back to acceptable levels.

Coming back to real economy it Poland is kind of European China and India combined. Quater of the country does manfucaturing, better educated quater is callcenters and half lives on social benefits or works for goverment. Problem is that China and India are much more competitive and we would lose on long run. We do not make babies, so sooner than other nations we would have 1 worker per 1 pensioner.

Finally are we different? Of course we are. According to media Polish people are unique because they want to own property. Other nations of world would rather become homeless than own a house!

:laughing:
Same shit, different language!

Sounds like Ireland c 1990, we had 20% unemployment in 1987 and we had about 17% in 1990 with 10% by about 1996.

Now does that sound like any country you heard of :slight_smile: ??