It's Like a National Holiday

Yesterday was a big day for my country, because the city of Sochi was chosen to host the Olympic Winter Games in 2014. Frankly speaking, I wasn't very much interested in this 2014 campaign. However, when I heard the decision of the Olympic committee, I felt really proud and happy. It seemed like everyone in Russia was bursting with joy, and I don't remember the last time when I saw so many people smiling and laughing!

And now the personal finance aspect of this event. Real estate in this Black sea resort has been rising for several years, since the first speculations about Sochi-2014 emerged. In 2002, a one-bedroom apartment in the center of the city cost $15,000-20,000, in 2007 it costs about $180,000-200,000! Now, when Sochi has become the official host of the 2014 Olympic games, the prices are expected to rise even more. Well, in 2002 real estate in Sochi was a great investment. I say, the net worth of an average homeowner skyrocketed there!