The Credit Crunch

Discussion in 'Egyptian Lounge' started by Ed the Druid, Jul 2, 2008.

  1. Ed the Druid

    Ed the Druid New Member

    Hi everybody,

    as we know the "credit crunch" is starting to bite here in the UK for some people,i was just wondering if there's evidence of it starting to show in Egypt.

    Being an avid, bordering on addicted user and viewer of this forum lol i cant see much evidence of any slow down.

    I,m just curious to hear anybody views is all.

    Rgds from Ed
     
  2. andyk2

    andyk2 New Member

    Hi Ed,

    The opportunity for a rant! Love it! Thank you! The "credit crunch" is a PR job from the banks to cover their mis-selling of finance to people who simply couldn´t afford the repayments. They all got themselves into trouble by being greedy, and now they want to blame the "economy" for having to charge even more interest to cover their losses from when they got burnt.

    The international property market "slowdown" has got two more significant factors than the supposed credit crunch.

    First, the pound has performed poorly against the Euro in recent months, so people find their European investments cost more (it´s been strangely quiet from the people that bought Spanish property at 1.48€/£)


    Egypt is booming and we´ve seen significant rises in the price of properties over the last two years. Get in while you can!

    Be lucky
    Secondly, there are far more markets than ever before that investors can put their money into. Even 2 years ago, nobody would have dreampt of investing in Brazil, Cambodia, Mongolia, Ukraine, China or Montenegro because the marketing didn´t exist. Therefore, agents in Spain (and France and Florida) are seeing a downturn in traffic because they haven´t prepared for the new marketplaces which are opening up to the general public.
     
  3. Ed the Druid

    Ed the Druid New Member


    Hi Andy,

    glad to have been of service lol,you nailed it in the first paragraph nuff said :D.

    Rgds from Ed
     
  4. Ed the Druid

    Ed the Druid New Member

    Oh,by the way Andy i,m in already mate.See the moubarak 7 thread

    Rgds ED
     
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