This article explains why the housing and commercial real estate market are in a permanent disequilibrium. The real estate market converges towards the equilibrium, but it changes due to credit constraints, expectations and the long investment process. The cycles on this market are much more...

The paper presents the spatial and socio-economic transformation of one of Warsaw’s large-scale housing estates – Sluzew nad Dolinka, especially after 1989. In spite of potential threat of physical and social degradation, the area has not converted into a city slum and still offers...