Way to Russia Talk Lounge

pinkey · Just Starting Joined: 15 Dec 2005 Posts: 1

Any Russian investors looking for Florida Real Estate to purchase we have a waterfront lot with house. Please contact panamapinkey@knology.net

jenniferedwards · Just Starting Joined: 29 Sep 2008 Posts: 1

Please PM me the details, I am interested

Paul Holmes · Lounge Wizard Joined: 12 Apr 2005 Posts: 1011

Why invest in present time when the shit is going to hit the fan even more. Until the get liquidity moving in the market, prices will continue downward until it hits an equilibrium. The USA market is better than Russia at this moment, but Russia has more tools if necessary consider the mortgage rate is 13%.
Tomorrow, the Russian government will throw more money to keep the stock market from crashing again. Russian business who are already leveraged, will have to liquidate more to pay for the shorts.

I am not buying anymore property till I hear the bloody screams of panic sellers.
Both of you are nuts.

Paul Holmes · Lounge Wizard Joined: 12 Apr 2005 Posts: 1011

Alfa Bank Sees Major Real Estate Drop
30 September 2008
Inflated values, the worldwide financial crisis and softening demand will cause real estate to fall to "West European levels," said Tatyana Orlova, the chief economist at Alfa Bank, in a report released Friday.

Russian real estate is extremely expensive by world standards, with the average price for 100 square meters of luxury real estate equal to 156 times per capita GDP, while West European real estate sells at 30 times per capita GDP, the report said.

"Considering that a sharp decline in worldwide real estate prices recently occurred, we are expecting a major contraction in demand and a drop in prices for the Russian real estate market," the report said.

The report also raises inflation forecasts for 2008 from 13 to 15 percent and significantly raises inflation targets for 2009. The latest government revision puts inflation at 12 percent for 2008.