Friday, Mar 09, 2007
Our quarterly look at the price of housing around the world
The Economist: Home result
THE global housing boom has lost a lot of its vim. The annual rate of house-price inflation has eased since the last quarter of 2005 in ten of the 20 countries The Economist tracks each quarter.
Posted by sold 2 rent 1 @ 12:23 AM (152 views) Add Comment
4 Comments
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1. sirgoogle said...
Sad Stuff. The Economist has warned for years about a crash (from 2003).
They seem to have given up.
I note that The Netherlands also went up in these stats. This is the lower end of the sector picking up across the rest of the country away from the metropolitan areas. It is very slow. Stock is taking ages to sell where we live (years) and has dropped in some categories (eg apartments).
2. sold 2 rent 1 said...
Many economists now are too afraid to put a date on a crash - and right to do so.
There is too much credability to lose after so many people got it so wrong
Even the Alexa traffic for housepricecrash.co.uk has died off a bit
http://www.alexa.com/data/details/traffic_details?url=housepricecrash.co.uk
I used to think a market peak would be reached when the alexa traffic soared.
Now I think the opposite.
Peak prices will happen when Alexa traffic hits a multi-year low - when every bear has turned bull.
Crash 2008 still on course
3. monty said...
Interesting but there are problems with it because the appreciation rates are not absolute. Taking South Africa, the currency depreciated against the pound over that period from 11 to 14 ZAR per GBP so the value of a house there depreciated in pound terms by 15%, similarly against the dollar. (And you thought the pound was so dodgy!!) The Japan figure would be about 15% lower if Yen depreciation (however short term that may be) was taken into account.
I'd prefer to see it normalized against the Economist's own Big Mac index.
4. Taffee said...
sold2
spot on....I made on the dow crash recently when everyone else was bullish...in fact many bears turned bull in the new year.
Crash WILL happen,everyone knows it based on facts of affordability and liquidity and debt.
I have sold all property and rent a house better then I had and the interest pays the monthly rent!......I will rebuy perhaps 5-6 years time cash