Thursday, May 3, 2012

Angleterre Beware

France faces 40pc house price slump

France faces a property slump of Anglo-Saxon proportions as the frothiest boom in French history finally tips over, threatening the country with an economic shock just as austerity hits.

Posted by dill @ 08:29 PM (1626 views)
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7 thoughts on “Angleterre Beware

  • ‘PrimeView said prices across France have jumped 160pc since 1998, though houshold incomes are up just 35pc. ‘

    Not as frothy as the UK then, but don’t tell the French, as some will no doubt think of us as a safer haven.

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  • Hang on, a housing slump of Anglo-Saxon proportions means houses shooting to 10x average earnings, threatening to go down for a bit but then wimping out of a full crash to ensure the whole entire youth remains priced-out. What’s this 40 percent garbage?

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  • crash bandicoot says:

    I was just thinking the same thing sneaker. France and Spain set to bust, Ireland and the US already busted. UK – it’s a new paradigm init.

    This week seems to have brought a lot of price fall stories but we’ve seen them before. Maybe as people start to become properly broke they’ll begin to realise the absurd relationship between house prices and wages is unsustainable. Is it time for panic selling or has that time already gone?

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  • Read a report last week by Danske Bank and saw a graph produced by Reuters that plotted Euro area house prices as an Index that showed a wonderfully flat line for Germany with Spain, Ireland, Finland and Denmark having peaked and dropping (at different rates) but France going through the roof after a brief dip in 2008. Things will come home to roost for France as soon as their elections are over and the political landscape changes.

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  • Fourminutewarning says:

    In Portugal too. Sold a flat in 2010 because I knew the crash was coming. Last week news statistics came out, indicating a decrease of 10% in the last year alone. And the crisis only started in mid 2010 (yes the socialist government at the time managed to contain the crisis – obviously wrecking the public finances along the way, to the point of having to be bailed out). I think there is another 20-30% to go (at least), as the bubble was (almost) as big as in Spain.

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  • stillthinking says:

    The closeness of the UK to cheap affordable housing in Ireland, Spain and now France, and for some lucky enough to swing visa eligibility the USA, will be interesting when the economies pick up to the extent that jobs are more available (which I think is the main reason for holding off on the move).

    I sometimes think if you are running with a limited company doing contract based work, which is more and more popular, where you could be working anywhere in the UK, that having your family in Spain while commuting over would be ideal. You can additionally offset the costs of your UK housing against tax.

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  • One could not make this up . Hahahahaha
    Is this a warning to the French before the elections.

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