Large Apartments vs Small Apartments (Part II)
You've read our post a few days ago in which we shredded the silly claim that large apartments have dropped in price, but smaller ones haven't. Today's post will pretend that this myth is true and analyze what it means.
Let's assume that large, expensive apartments have dropped in price or nobody is buying them anymore, while smaller apartments are being purchased, especially with Iskan loans.
Who are the buyers of the large apartments and who are the buyers of the smaller ones? We don't mean to be condescending here, but, all else being equal, I think it's not unreasonable to assume that, statistically speaking, the buyers of large apartments are older, richer, smarter, and/or more educated and knowledgeable (i.e. privy to more public and non-public information) than the buyers of smaller apartments.
In other words, smart money has now pretty much totally exited the real estate market, leaving only naive or less smart money which is still being conned and preyed upon by unscrupulous sellers and convincing them into taking out large loans and purchasing this overpriced junk that they can't afford.
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