The Crisis in the Real Estate Market with Specific Reference to the Sale of Unbuilt Plots in Wroclaw Between 2008-2009
The lability of the American real estate market has brought about the world crisis. Not only did globalization not stop it, but it enabled its advancement and proliferation. In our country the crisis appeared a little delayed and also in a limited form, the main reason for this being the banks in Poland not giving credits so easily as it is done in the West and notably in the US. In spite of this, the financial crisis and the decrease in the demand affected all kinds of real estate beginning from apartments, through detached houses, right to building plots. Using as an example the city of Wroclaw, the author of the article describes the course of this crisis in the real estate market between 2009 and 2009. To the benefit of this market the changes occurring therein were not of vehement character, therefore it did not face major losses or bankruptcies.
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