free4now
Thinks s/he gets paid by the post
- Joined
- Dec 28, 2005
- Messages
- 1,228
With all the talk blaming the housing crisis on the US housing industry, I think it's interesting to note that the housing crisis is not a US phenomenem. It's global. Here are a couple of links with evidence of the slump in the UK:
House price crash goes global | Money | guardian.co.uk
The map that reveals how long you will have to wait until your house price recovers | Mail Online
When I was travelling around the world in 2004-2005, I remember noticing that most westernized countries (Ireland, Netherlands, Canada, Australia, New Zealand) that I visited were experiencing the same kind of bubbles that were happening in the USA. And now the bubble bursts seem to be happening worldwide as well.
This tends to make me think the housing bubble was more a result of credit being loosened by the fed (which affects interest rates globally), and less a result of corruption or other nefarious activities.
House price crash goes global | Money | guardian.co.uk
The map that reveals how long you will have to wait until your house price recovers | Mail Online
When I was travelling around the world in 2004-2005, I remember noticing that most westernized countries (Ireland, Netherlands, Canada, Australia, New Zealand) that I visited were experiencing the same kind of bubbles that were happening in the USA. And now the bubble bursts seem to be happening worldwide as well.
This tends to make me think the housing bubble was more a result of credit being loosened by the fed (which affects interest rates globally), and less a result of corruption or other nefarious activities.