Proverbs around the corner

"Whatever you give a woman, she will make greater. If you give her sperm, she'll give you a baby. If you give her a house, she'll give you a home. If you give her groceries, she'll give you a meal. If you give her a smile, she'll give you her heart. She multiplies and enlarges what is given to her. So, if you give her any crap, be ready to receive tons of shit."

Thursday, April 3, 2008

MORTGAGE MARKET

I and many other young people are struggling to get a decent mortgage. There is limited mortgage market in Mongolia. Only few lenders offer mortgage up to 70 million MNT with sky rocketed interest rate for very short period of 15 years. The lowest interest available is 1.3% per month, which makes 15.6% annual interest. In addition, it is very hard to get one of those mortgages for young people, as they do not have sufficient funds, guarantees.

Recently, I saw an advertisement on new apartment. Their offer was 800 USD per sq. meter. This was newspaper from March 14, 2008. I called the company on March 31st. They told me that they have changed the price to 1,000 USD a week ago. So, in two weeks the price of the housing increased by 200 USD/sq. meter. Insane? Reality? Check please!

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