Monday, Feb 19, 2007
Dead Cat?
New York Times: Housing Market Heats Up Again in New York City
Excess printed money finds new home
Posted by inflation is eating my savings @ 06:18 PM (150 views) Add Comment
1 Comment
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1. sovietuk said...
This is indicative of a world wide trend where property prices in capitals are becoming increasingly detached from provincial property prices in nations as a whole. Just look at the latest reports from the UK, prices down (YES DOWN) in several UK regions month on month but up in London. Just look at Moscow and compare the prices with a village 200km away from there. Properties in capitals are becoming the assets of the super rich and their prices are becoming more and more distorted from the prices that the general population can afford. Until the global liquidity bubble bursts the trend is likely to continue.