Quoting: Grzegorz_
A guy, who buy a flat just to sell It for more in a year is not giving jobs to anyone.
I would say, yes, he is, if he uses Polish labor to fix it up or to farm it or work on it or to build the house on it.
Quoting Daffy: there are polish people doing this. in Wroclaw my friends fiance works in real estate and is doing this everyday. its not as many foreigners as you'd think.
To Daffy (I agree) and all others, I'd say this:
Here in the US you can buy a home in California for $100,000 today, add $30,000 in repairs and tomorrow or next week sell it for $500,000 (if you did the right work inside to fix it up). They call it "flipping". I used to be in real estate and this was common enough ten years ago, though it is much more popular now.
Even here in the East, far away from any major, growing, economically stable US city, you can buy for $150,000 today, do nothing at all to the property, live in it, then sell five years from now for $50-70,000 more than you paid.
Everyone does this here.
How is this a terrible thing? If you are smart and maintain the home well and hang onto your property for a bit, it will appreciate and you can sell to whoever you choose and then become rich from it. Then you buy a bigger, better property with the money you made from the first one.
This is a bad thing?
I guess I need to read up on this phenomenon over there as everyone seems so angry about it, but to me, this is life, everyday, in the US, and has been for as long as I can remember.
Can someone give me a link showing this foreign purchasing of Polish property so I can see what they mean?
Happy Monday (to those so inclined to receive such greetings)!
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