To: elmatador who wrote (19416 ) 6/9/2007 9:12:49 AM From: Riskmgmt Read Replies (1) | Respond to Hello Elmat;Low interest rates were a luxury developed countries had with all that capital piled up there. So, this situation is a banker thing, and not being in the room when these market interventions are being decided, I cannot say with any conviction that prices are likely to go down or recover at this point. billcara.com .But with prices comparable to US bubble areas, it makes no sense to own there when you can rent for a fraction of the real costs of ownership. If I wanted to settle there anywhere, I would definitely rent and wait for the market to soften. If it never does, renting a place for $2K a month is still preferable to paying $700-800K plus running costs.
