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Sheer Heart Attack

House Price Crashes, The Credit Crunch And Timing - Smell The Fear

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There's something that's troubling me about the timing of HPCs and the credit crunch and I would appreciate being put right on it.

The credit crunch is heralded as having started on the 9th August last year. It was said to be the time when credit markets around the world dried up and criteria for loan/mortgage acceptance became much more stringent.

What I don't understand is why the housing markets are crashing in some parts of the world but not in others since the crunch began? For example, Britain is at the beginning of a HPC while Australia (I've read a few times on here) is still broadly going up. Both Anglo-Saxon economies, currently different outcome.

Why is Hong Kong and some parts of SE Asia rocketing too?

I understand that in many markets, particularly the UK's and Spain's, there is a high importance in the minds of the public about HPC.

From my limited understanding, if the credit crunch is worldwide, why are some markets still showing rapid appreciation?

TIA.

Edited by Pacific State

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Not sure about all of the markets, but Australia is benefitting from the commodities boom, as there is a lot of mining going on (although the mines themselves are often in the middle of nowhere, and accommodation is provided).

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Not sure about all of the markets, but Australia is benefitting from the commodities boom, as there is a lot of mining going on (although the mines themselves are often in the middle of nowhere, and accommodation is provided).

Also, Australia took their house price crash in 2004 or so...

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Basically what everyone else said. If you're country grows a lot, digs up a lot or makes a lot, then you boom might be for other reasons than the credit boom. Or at least less dependant on foreign savers. It's probably just lag time though, as the US slows and drags the rest down with it.

I reckon we're going to have to start digging up loads of coal again ;)

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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