REAL ESTATE CRISIS. CAUSES, EFFECTS, MEASURES TO IMPROVE. THE ROMANIAN CASE
Starting 2008 Romania faced one of the deepest financial, economical, socio-political crises. It all started with the decline of the real estate market. Very accessible bank loans, real estate evaluators that in their majority used to double or triple the value of properties, the insatiable wish o...
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| Format: | Article |
| Language: | English |
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Academica Brâncuşi
2015-12-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
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| Online Access: | http://www.utgjiu.ro/revista/ec/pdf/2015-Special%20ECOTREND/86_Cheptea%202.pdf |
| Summary: | Starting 2008 Romania faced one of the deepest financial, economical, socio-political crises. It all started with
the decline of the real estate market. Very accessible bank loans, real estate evaluators that in their majority used to
double or triple the value of properties, the insatiable wish of each and every Romanian to own one or more properties
without considering the long term consequences, banks’ risk departments that completely ignored risk, all those were
the perfect recipe for a disaster.
This research paper is an approach in creating the big picture of the Romanian real estate market and the
attached domains, the role it played in the national economic crises, and also the social impact banks’ behaviour had
on the population layers.
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| ISSN: | 1844-7007 1844-7007 |