Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

How Russian Builders Turn A Tidy Profit

Recommended Posts

http://investing.reuters.co.uk/news/newsAr...USSIA-HOMES.xml

Russia's hoodwinked homebuyers turn ire on Kremlin

Mon Jun 5, 2006 10:19 AM BST

MOSCOW (Reuters) - Irina Tarasenko owns an apartment in house No. 42 on Moscow's Bolshaya Ochakovskaya Street, but the nearest she can get to it is the children's playground 14 floors below.
She paid $50,000 (26,000 pounds) for her one-room property when the building was still on the drawing board. It was finished last year, but no one could move in because, it turned out, the developer had sold the same apartments to two or more buyers.
"I don't bloody believe it," said Tarasenko, standing next to the swings in the playground.

At least Irina will not have to face negative equity when the Russian market goes pearshaped.

Share this post


Link to post
Share on other sites

At least Irina will not have to face negative equity when the Russian market goes pearshaped.

Surely paying for a property but not owning it is the ultimate form of negative equity.

Billy Shears

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.