Quote:
Originally Posted by synthia
It's hitting everyone, I think. Housing prices can only rise as long as people can get loans and make the payments, and eventually one or the other gets so far out of hand that the pyramid collapses.
Construction is booming here in Panama (no, they probably aren't going to let you come here to work and you wouldn't be happy with the pay), but eventually they'll run out of Venezuelans who are parking money here in the form of condos and in order to have a place to run to when/if Chavez nationalizes everything. Then it will burst here, too.
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I suppose that is why property is still very cheap (for Europeans) here (Argentina) because of the lack of mortgages and any loans that are available, are very low in value and the repayment period is 2-5 years generally
Michelle