Monday, November 2, 2009
Bubbles, bubbles everywhere.
A property bubble is hitting cities across the world. But is it here to stay, or are we on the cusp of a double dip? To the dismay of virtually everyone except estate agents, buy-to-let merchants and Kirstie Allsopp, house prices in Britain are defying economic reality and marching up again. And, sadly, we are not alone. In cities across the world (and it's nearly always cities rather than their hinterlands) property speculation is once again rife. The one positive spin-off from the global credit crunch â€“ that family houses might once again become affordable â€“ is disappearing fast.