News for hackers. Stuff that matters.

A comment on The Greatest Wealth Transfer in History Is Here, with Familiar (Rich) Winners. Parent comment

Re:The Greatest Wealth Transfer in History Is Here, with Fam... by thriftwy on Sunday May 14, 2023 @10:34AM (#35938322)
Problem being, any wage growth in Moscow caused prices to appreciate, because real estate is most/only reliable vehiche for long term worth storage in middle class. If you have spare cash, you buy an apartment.

Indeed, the great amount of constructions works to limit this effect.

[ Parent | on HN ]
Re:The Greatest Wealth Transfer in History Is Here, with Fam... by Throw73849 on Sunday May 14, 2023 @10:42AM (#35938375)
They are not competing with global foreign investors. Look at property markets in postsoviet countries like Poland or Czechia.

Russians can invest in foreign stock markets etc... It is not like in China or Korea.

Price rise you see is normal growth.

[ Parent | on HN ]