http://www.guardian.co.uk/money/2010/ma ... urope-rics


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.

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.

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.


Good for you.

That was my point. Industry was badly affected, but the housing market was left pretty much unaffected.