People are only suckers if they fail to do their homework properly. I really don't have a lot of sympathy for people buying in Bulgaria at the moment, for example.
If they spent just an hour on the internet making a little research, then they would realize that they are going to lose by buying there now. But so many people don't and have only themselves to blame.
Property markets follow the same cycle in each territory.
Can you really say that the property boom in Spain over the past decade which has now ended has 'ruined' the Spanish economy? Hardly - it's the main reason why they've gone from being one of the poorest countries in Europe to being up there with the big boys now.
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