Real estate prices rise as supply shortage looms
Published: 03 August, 2010, 09:25
Edited: 05 August, 2010, 23:24
Russian real estate prices are on the rebound, with the construction halt at the height of the downturn likely to push apartment prices higher as demand grows.
It is just in the human nature to repeat the same mistakes all over again. Real estate markets in Japan, US, Spain apparently did not teach anything. Although the history always repeats itself, the question is how soon. The laws of economics are the same everywhere and eventually they prevail










USA housing bust has made owning a home a lot more affordable -- but in some places, prices are extraordinary; you can buy a nice condo for less than the cost of a new family car.Some cities have dozens of attractive condominium listings selling for $50,000 or $25,000. There are some selling for less than a new Toyota Corolla. And these are not derelict hovels in crime-ridden communities: These homes are often in move-in condition and located in nice neighborhoods.One condo in Deerfield Beach, Fla., that sold for $115,000 five years ago now lists for $25,000. That's a drop of nearly 80%.Much of these price drops can be attributed to over development during the boom. Much of that came in Sand State markets such as Las Vegas Miami and Phoenix, where prices for all properties are have fallen precipitously. Dear Russian citizens, please, buy homes in here; you are always welcome.