From Ired.com: The financial crisis, already deep in America and taking shape in Europe, is reaching as far east as Russia, where residential and commercial developers are already cutting activity and looking for better placements. For Russia the game is even more symbolic.
After almost two decades of turbulent post-communist development, the real estate investment has remained a relative island of stability. Is it over? Now the Russian experts aren’t discussing the possible trends, but just the amplitude of the coming market correction. This time they are talking about a real correction, after two mini-corrections in 1998 and 2004, which were provoked mainly not by the market, but by state mismanagement….. Full Article: Source