Thursday, 21 January 2010

My idol for today

All my Polish readers should click here and be all ears for nineteen minutes. Listen, hang on every word this guy says and chew it over – this is what an independent real estate market analyst says. Clear, well-argued, backed by calculations reasoning, something I yearn for and appreciate.

This is an inconvenient truth for all estate agents and developers and banks, who try to dupe buyers and persuade them that flats are cheap these days. Humbug! We shouldn’t succumb to their pressure. Real estate prices are exorbitant, very often unaffordable. We shouldn’t pay over the odds and become slaves of mortgages for three decades! Someone who does it, as Mr Macierzyński points out, is financially illiterate. Flats will be cheaper!

1 comment:

Anonymous said...

I'm thinking about buying the flat right now, and I've seen this video yesterday.

Macierzyński is generally right,but some comparisions he makes are telling nothing.

He says that the interest rates will go up, so debts with variable percentage will be more expansive.

In reality, the interest rates + inflation will also make renting a house more expansive, while he asserts it will be constantly 2000 PLN over 30 years. That's just not right - he should discount both variants.