I understand why expats and foreign students who live in the “city” wherever that city may be located [ Krasnodar, Minsk, Kiev , Odessa, Warsaw.. ] why they decide after some time to permamently move out of the city and into the countryside.
Many expats and foreign students would agree with me that Eastern Europe is – Pandora [the fictional planet from the movie AVATAR ]. Although not inhabited by the indigenous people the “Navi”, but of course plagued with systemic “challenges” –of which expats find welcoming and locals despise with every fiber of their souls. Whereas locals in say, Ukraine or Belarus might present bureaucratic nightmares for locals in terms of registering a business, buying a house, or buying a car and insurance—foreigners view this as a litmus test which proves they are “alive” and have the patience and skills to make a transformation into a new life on an exotic planet.
LEAVING THE EASY LIFE:
RISING REAL ESTATE PRICES:
The cost of home ownership in Europe and North America has risen dramatically over the past 10 years so much so that the real income gains of “professional” working people have not caught up to make a parity adjustment. Take for example our earlier article about white collar professionals in Silicon Valley California [USA ] who were earning six figure incomes but still could not afford the mortgage on an apartment –for purchase or a small home less than 1200 sq.ft. Global home real estate prices are perhaps reaching another “bubble” as it did between 2005 and 2007 in the United States in particular.
The inability for young professionals who are not married and in their mid thirties to accumulate the most desirable appreciating asset—a home, has motivated thousands of Westerners to collect whatever hard capital and assets they have, and or their tangible skills and leave their homelands in pursuit of owning a larger home in Eastern Europe, Africa or somewhere in the Asian country region for the equivalent price of their home loan down-payment in their home countries.
So what does a young professional from Silicon Valley, or London, Berlin, Madrid, Mumbai, or Tokyo do when he has been rejected several times from different banks to finance the purchase of
What does $25,000 get you in
FIND OUT IN OUR NEXT FEATURE ARTICLE PUBLICATION OF THE “DEFECTOR” SERIES.
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