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House price rises put UK in Europe's top five
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=6664		 Page 1 of 1
Author:  Amnesia10 [ Tue Mar 02, 2010 4:45 pm ]
Post subject:  House price rises put UK in Europe's top five
http://www.guardian.co.uk/money/2010/ma ... urope-rics

Quote:
"The shallowness of the downturn in core European housing markets has surprised many commentators," Ball said. "But Europe is not the US, and the problems and policy responses have been different. Mortgage defaults have only risen modestly. Low interest rates and central bank support for mortgage markets have played key roles in bringing recovery."

Yes but many parts of Europe did not have bubbles, some others did. Spain Ireland and Netherlands had big bubbles. As did the UK. The fact that interest rates are far too low has provided too much support for property prices and considering that the recession looks like getting really bad in 2011/12 our problems will be delayed till then. We have had a huge property bubble and they are still too high.
Author:  big_D [ Tue Mar 02, 2010 5:54 pm ]
Post subject:  Re: House price rises put UK in Europe's top five
Germany was "badly" affected by the economic crisis, but mainly in industry and banking.

House prices dropped a bit, we managed to save about 20K over the high, buying at the end of last year.
Author:  Amnesia10 [ Tue Mar 02, 2010 7:08 pm ]
Post subject:  Re: House price rises put UK in Europe's top five
big_D wrote:
Germany was "badly" affected by the economic crisis, but mainly in industry and banking.

Germany did not have a property bubble. Though some property prices fell because of panicked owners. The real damage came when world trade collapsed. Germany lost most of its exports for a while. The banks were affected by the same problems as the rest of Europe.

big_D wrote:
House prices dropped a bit, we managed to save about 20K over the high, buying at the end of last year.

Good for you.
Author:  big_D [ Wed Mar 03, 2010 5:24 am ]
Post subject:  Re: House price rises put UK in Europe's top five
That was my point. Industry was badly affected, but the housing market was left pretty much unaffected.
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