Monday, April 29, 2013

House prices predicted to further crash around Europe

S&P sees deepening house slump in Spain, France and Holland

Article describing how Spainish prices are likely to fall by 13 percent this year as the banks dump property on the market and what's also happening in Holland,France and ireland. How long is it going to be before UK and especially London prices are going to look stupidly out of sink with Europe? Also if any of these countries break free from the Euro and go back to their old currency property in Europe could look comparably very cheap for international investors

Posted by britishblue @ 08:12 PM (1878 views)
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4 thoughts on “House prices predicted to further crash around Europe

  • House prices are still falling here in Ireland, there was a brief blip up last year when mortgage interest relief was abolished last year. Since then prices have resumed their fall and thousands of repossessions will hit the market in the coming months.
    I am beginning to think that prices may well fall 75% outside of Dublin.

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  • Last to correct, last to recover. If at all.

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  • London is a safe haven at the moment for international money and London property is still rising. But this has very little to do with the value of property and more to do with parking money in a relative safe asset. But if we fast forward 5, 10, 15 years will London still be the leading safe haven in Europe. The Euro crisis can only go on so long. Bankrupt countries on devalued currencies often recover well within a few years. When the Eurozone eventually breaks up, this will happen and there has to be a point where investors cash in and move money elsewhere. Logic and past history have been hijacked in this housing cycle through a number of unusual factors such as Europe, low interest rates and QE. Maybe the lesson for this housing cycle will be the elongated nature of it, rather than the fact it can buck the trend for ever. Does anyone think the the Eurozone will be in the same structure in 15 or 10 years time, or even 5?

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  • Moodys just cut Slovenia bonds to Junk. Seems they will be following Cyprus into the operating theatre.

    After the last screw up, investors and anyone with a brain will be exiting the Eurozone with their cash while the opportunity exists…. Maybe more investments in London property coming up?

    ECB will cut IRs for sure.

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