Mon May 16th, 2011 at 10:51:56 PM EST
Surfing trough e bay I accidently came to an offer (made for Australians) for 10 apartments (whole building) in USA for just $45,000.
There was a video there on Youtube so I watched it. Sad picture...
There I found house and land offers for as much as $6,000. And nobody wants it. This is a catastrophe of terrific scale. Obviously these are poor neighbourhoods but still in those kinds of neighbourhoods here in Brisbane you can't find anything below &300,000...example
What is happening with real estate in Europe? Everywhere?
I know couple who tried to sell small one bedroom apartment in the middle of London for few years and couldn't make a sale.
Here in Australia real estate prises are still standing high and I keep wondering for how long yet. Around my area whatever is "for sale" is sold in a month or so (sold signs everywhere).
How is the real estate, so crucial in western economies, going to play out in the future? Anybody with expertise?