The ongoing financial crisis in Greece and Cyprus has led one of the most active business sectors of the previous decade to go bust.
Real Estate development was booming during the late 90s and the first decade of the millenium. Billions of Euro had been invested in real estate, with the vast majority of cash coming from banks.
When the state went bankrupt, construction was disrupted due to the lack of available financing. Huge development projects that seemed promising, now look like ghost cities in the middle of nowhere.
Like this one
I shot the photo somewhere in Pafos and edited it with Snapseed
It is obvious that no traditional financing method exists anymore that could take the economy and the real estate development sector to a new high. On the other hand, cryptocurrencies could. Whether we use them as a means of payment or a security, this new asset class could be the fuel in the machinery of a dried up economy. Until people comprehend this though, these ghost towns could and should become shelters of the unfortunate, refugees maybe in need for a home.
ohh i am gatting scare here
We have such places in my city but no one could visit them they look very creepy and scary
Where are you from @soufiani?
I'm. From morocco there's a place called (ganzra) thy say that it's the kingdom of dimons and ghosts 😯
Wow, always wanted to visit morocco, if I do I will check out ganzra too!
Very good information and I think the government of that country should rebuild that environment for the unfortunate who do not have a home, for example, a condominium for refugees or a public school, there are many ways to help, but if people only think about same What can we do? Well, if we can do something, start by ourselves
to make this world a better place, enchant your publication you have my vote and my support
You put it nicely; we need to start from ourselves. Thank you for your comment!
I read through the post and its a pretty much a very interesting article. About the photography, the effects you used while editing makes it look very unique and way out of the ordinary. It brings out the idea and picture of a ghost town in a much deeper way. :)
Τhank you very much @maxwell95!
I saw a lot of those abandoned real estates projects everywhere i went when i lived in Spain. Just like boarded little shops, i know no more depressing signs of an economic downturn...
Well Spain had similar issues with Cyprus and Spain, so did Portugal, but I think Spain is now managing the issue somewhat better.
Sad to see something so prosperous go the way of ghost town. Thankful you, your family, and so many of us here on Steemit have a chance to succeed in the new economy.
Thank YOU @lydon.sipe, one of the kindest Steemers around here.
There is a fear that in a financial meltdown more countries will go the way of Greece. i don't buy that. Cyprus must catch some steem (pun intended). LOL
I hope Greece catches some steem as well!!
this is a grim reality that many nations could possibly face in the future. if greece becomes a pioneer in revitalizing their economy through crypto, it could teach the world something... if only people would realize its power and accept crypto soon...
Really scary place
I capture this castle in RABAT/MOROCCO there is a It has a prison at the bottom nobody have the courage to go there
Sad that these buyers went bankrupt and are now homeless, but beautiful photography!
Greece is also not able to save its financial condition. This situation led to the failure of Greece to repay the debt of US $ 1.7 billion to the International Monetary Fund, or IMF, with a set deadline, Tuesday (30/6), making Greece as the first developed country failed to pay debts and only live of borrowed money for a while.
When I did my traveling through Asian countries I was often struck with a kind of wonder and awe by palaces and pleasure domes sitting abandoned, decaying, garbage filled. What happened? How/why did those magnificent buildings die? Even abandoned and decaying, they seemed magnificent. Why were people living in squalor nearby such former magnificence?
I think that first the souls of leaders become ill and degenerate, then society sickens, and the buildings die.
This is too spooky for me... Now I won't turn off the lamp at night, too scary :d
Beautiful photo, congrats! and indeed it must be a great opportunity to invest in real estate.
That is a really badass photo. Looks like something you would see in a hollywood movie. What a great job, very beautiful work too. Thank you for sharing.
Happy Steeming
@mariandavp
Your photo is like looking at a ghost.
Eerie place no doubt.
Were all of these properties built to sell?
It's sad to see places like this.
If you were to build houses for people to live in and build communities they'd look very different to those that you're just trying to make money by selling mortgages on.
Cryptocurrencies and technology challenge that but these won't be the last monuments to greed.
That's a sad situation and a photo edited in a most deserving way.
The photo gives the watcher the feeling of a great promise, with it's stylish old fashioned buildings and the way the road leads you to regal looking gate, with a promise of trees and grass where you can rest and enjoy the fruits of your investments and hard work, a feeling that thise who put money into such grand projects must probably expected to feel.
But - the scene color scheme is black and white and ghostly faded, and we are left only with a memory, with a faded reality of what could be - disappointed by the powers that made all of our efforts be in vain.
But - the picture might be ghost-like, but it is also a bit dreamy - like a hope, not a strong one but one that still exist - and I do hope the poor people of Greece will return to their grand days, this country is so pretty that it feels so wrong the situation is so dire right now.
Thanks for the photo, I really enjoyed it - in a melancholic way.
Perfect as always!!!love it Resteemed😊😊😊
wow..........amazing!
It's true, the crisis is changing life! Your picture is great @mariandavp !
Perfect post as always my dear!😊
My dear friend @mariandavp every post of yours always drips senseability. I'm so proud to have known you in this community. And by the way I think you could be a great photographer if you wanted to 😘
Great Post!
The picture is a little creepy but very cool.
Steem on :)