Why Are Homes Still EXPENSIVE in Venezuela??? Hyperinflation

I don't know how housing markets work, but I would assume the people there aren't mobile at the moment. Most of them likely have nowhere else to go and no real means to go anywhere anyway, thus no real incentive to sell.

They just are not hungry enough yet. Be patient.

Also....the banks own the homes and they still want their money at us prices.

That and why sell if you aren't going to get anything for it? Their money is worthless there anyways. It's like their whole system is broken, so money almost meaningless to them now.

Another possible issue though, is I have some friends that live here now, but were saying something about "they" were scooping up their old property. I wasn't clear on who the "they" was. My friend said it was a condo, but sounds almost like they're confiscating property.

This could very well be how government is getting their money to survive, by stealing houses from fleeing populations, then getting big US bucks for them....