Wednesday, October 10, 2012
“With prices now plumbing levels last seen in 2004”
"Values have fallen 15 percent from a peak in 2008 and are back to about the same level as eight years ago, CBS said. Prices had already dropped 5.5 percent in May from a year earlier. The Dutch Central Bank forecast in March that house prices will continue to drop through 2014 because of stricter mortgage lending rules and a reduction of a homeowner tax break that spurred the lending boom. Values may fall another 5 percent next year, ING Groep NV economists said in a note Aug. 9." Back to 2004, eh? A bit like the UK then. The fact that the Netherlands is teh "most densely populated country in Europe" doesn't seem to be helping them either.