Saturday, Aug 29, 2015

Notes on a Micro Bubble

Guardian: Towns the UK property boom forgot: 'We sold at a £410,000 loss'

Textbook bubble story: "this was autumn 2007, and this was Northern Ireland. For a brief moment in time a province that was a byword for violence transformed itself into the world’s most sizzling property market. Builders who were knocking out small estates of semis initially priced at £120,000 were selling them for £200,000 on completion six months later. Investors from the Celtic Tiger south were driving north and snapping up anything they could lay their hands on. Banks were falling over themselves to lend."

Posted by quiet guy @ 09:54 AM (4364 views)
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2 Comments

1. taffee said...

They had all the same spin before the bubble burst including huge demand and a lack of homes....of course when
The bubble burst amazingly demand fell off a cliff and supply soared leaving empty properties and prices plunged

Though surprised it hasn't happened here yet..I didn't add help to buy up to 600k! And emergency rates
For so long and other props

Sunday, August 30, 2015 02:46PM Report Comment
 

2. taffee said...

Meant didn't add help to buy etc into my 'future of the property market thinking'

Sunday, August 30, 2015 02:49PM Report Comment
 

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