Monday, October 29, 2007
Short article detailing irrational exuberance in UK HP’s compared to Germany
"Compared with most capital cities in the western world, Berlin has almost unbelievably low house prices. For the price of one house in London, you get about five in Berlin. But in the medium term, Germany will benefit from having a housing depression behind it. In the UK, Spain and Ireland, it is only just starting. For the UK in particular, the next few years look pretty grim. "