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House price crash goes global

by SOLARLIFE | September 2, 2008 at 01:14 pm

548 views | 12 Recommendations | 6 comments

No production, no income, no money to pay overpriced homes with no re-sell guarantee.
A new economy model will look for other colateral than real estate, knowledge to medium sized production replaces homes.

The property crash that began in the US is spreading across the globe, according to international estate agents Knight Frank, which said today that steep declines are now taking place across Europe and into Asia.

The country recording the sharpest fall is Latvia, where house prices have plummeted 24.1% over the past year. New Zealand, Denmark and Lithuania have all seen falling prices, along with Malta, Germany, Ireland, Estonia, Britain and the US.

Biggest fallers: Year-on-year house price change to Q2 2008
Latvia -24.1%
United States -16.8%
Estonia -16%
Lithuania -9.9%
Denmark -9.6%
Ireland -8.1%
UK -3.9%
Malta -2.7%
Germany -2.5%
New Zealand -2.2%

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Barry Artiste

flagged this story as Good Stuff

at 13:18 on September 2nd, 2008

SOLARLIFE, I like this story. It's good stuff. Certainly Canada house prices are alive and healthy.

SOLARLIFE

at 13:27 on September 2nd, 2008

Barry Thanks for Flag "House price crash goes global" , your comment " Canada stays healthy"

SOLARLIFE

at 01:14 on September 3rd, 2008

Thanks Moonwolf for Flag "House price crash goes global", your opinion "The end of laissez-faire, unbridled corporate capitalism is at hand." Nobody wants to hear it, but certainly the sub-prime bank capitlism is at an end including the banks who run it.