real estate development has been poisoned badly by the free money given out by so many banks in the last 20 years... it should be about the places that are becoming better value because of various other conditions, instead of just how much loans are dished out... on that basis I would say that if you were smart, and bought land in eastern europe in the last 10 years, you did well. every other place the rent and land prices went up stupidly, here, they have been very placid. but the people have become richer. a lot richer, when you balance out the costs.