Tuesday, May 01, 2007
Update on Danish Bubble
Wikipedia: Danish property bubble
I popped this in for background only. A Danish friend of mine who has been watching the bubble there mentioned at the weekend that he is convinced it has topped and has seen reports of HPC in some areas. Now this may be wishful thinking (like us Brits).... but... perhaps even the small Euro IR rises are having an effect ...?
Posted by sirgoogle @ 08:57 AM (153 views) Add Comment
3 Comments
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1. N Geeraert said...
Danmark is not part of the Euro zone, it still has it's own currency just like the UK.
2. Chilli said...
Wikipedia should not be used in this way. The Housing Bubble is not yet history, and that is what belongs in an encyclopedia. This is more 'current events' which is much more up to debate than 'history'. Wikipedia is not a forum for debate.
3. O2bsure said...
Denmark doesn't have the Euro. They retained their own currency the Danish Kroner (DKK).
But having said that, I too think the Danish housing market has finally rounded the corner. There are literally thousands of new
apartments nearing completetion all around the outskirts of Copenhagen and they will all hit the market within the next 12mths.
Prices started cooling late last year and this mass of new inventory isn't going to help. In fact I view this global building frenzy as simply tomorrows affordable housing being subsidised by todays naive speculators.
Building will simply keep building until there is no margin left. They will effectively ensure the housing market is doomed as an investment.