Saturday, September 29, 2007

I’d never thought that non-U.K. markets were also bubbly…

Second homes face price fall

"The price of second homes in the Mediterranean and eastern Europe could fall as a result of the credit crisis, a leading property expert has warned. Michael Ball, a professor of property at Reading ­University, England, and an adviser to the UK government, said holiday homes in many parts of Europe were exposed to a correction."

Posted by trough2010 @ 11:18 AM (742 views)
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3 thoughts on “I’d never thought that non-U.K. markets were also bubbly…

  • Italy has its own bubble alright. You can’t move for the dodgy EAs that have sprung up everywhere since the Euro brought in lowever IRs and prices shot up – seemingly overnight. These EAs appear to have totally convinced everyone that any property makes “a great investment” and that prices never go down. Rents are also sky high and inevitably in “nero” in most cities. The words “bolla immobiliare” (housing bubble) don’t appear to feature in the Italian vocabulary.

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  • The professor must have been up all night to work that one out! Forecasting is only valuable before everyone else has sussed things out for themselves.

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  • would somebody like to explain to me WTF a professor of property actually is? – and perhaps define the legitimacy of said role.

    I’ll bet you his degree was art history!!

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