A few streets away from us, something is selling for $350,000.
There's a lot of construction going on everywhere here, and the houses being built aren't some tiny little huts.
Rusanivski Sady is just minutes away from Livoberezhna metro station, and it's a comparatively wonderful place in general, and so this construction boom wouldn't have been surprising at all - if only it hadn't been for the huge Podil-Voskresensky Bridge, which, if completed, would cut right through the dacha neighborhood, wiping away a big chunk of it. Those whose property would be affected, however, refuse to accept compensation for their plots and seem to be determined to fight the city to the end.
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I'm slowly posting photos from Rusanivski Sady here.
The same exact thing is happening in Montana where modest little summer cabins are being replaced by great big mansions as the land is so valuable. It's forcing regular people out who get taxed out of it and can't afford not to sell. I told my neighbors that they should have a "reservation" to send people like me. But even land that nobody wanted, where they used to send native americans, is too expensive for anyone but the very wealthy to afford now.
ReplyDeleteAllan Greenspan recently said that he did not predict the bubble in the housing market in the states as the sub prime market got crazy. Of course this doesn't have much of an impact on the very wealthy, and interest rates are still very low, But he also said that part of our problem was world wide demand.
If those people with dachas hang on as long as possible they will get maximum return as things will only go up. But regular people will have no nice place to go, and a way of life most likely will be lost. And I've always thought that once a great big place has been built then it can never go back to what it once was.
Change can't be stopped and development can't be undone. Too bad we can't afford to just leave things alone.
I can't understand how the prices for these properties are so high.
ReplyDelete350 000 Dollar in a region where the average (official) wage is about 500 dollar per month?
It would take a couple of 2 working people 29 years to earn this money (without being able to spend even 1 dollar on something like food, clothes or something else.)
Is the answer that most people also have a 'black' income which more than doubles their official wage?
Welcome to Ukraine, the land of confusion!:)
ReplyDeleteIn nominal terms, approximately 10 percent of Kyivites can be credited with shadowy incomes upwards of $500. Nationwide, nominal per capita incomes range from $200 to $300.