Global House Price Crash article

TKline

Interesting article about global property crashes, how they happen, which countries have been affected etc etc. Obviously USA, Ireland and some other European countries were hit pretty hard by property crashes but other countries like Australia are still bubbling along with sky high prices.....

Link..... article about global house price crashes

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.....countries believed to have been experiencing recent house price booms or bubbles include the USA, UK, Netherlands, Australia, New Zealand, Ireland, Spain, South Africa, Canada, Singapore and China. To date, the housing booms evident in several of those countries have imploded spectacularly, with the USA, UK, Spain and Ireland experiencing particularly devastating house price crashes. However the crash was not a global GHPC, and did remain isolated to those few countries, while house prices in other countries, notably Australia, Canada and China, continued to rise alarmingly, and are only now displaying the first signs of peaking. This has led some observers to wonder whether the house price crash will soon become a global one after all.....

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Cheers,

Tom Kline.

Blackjack

TKline wrote: »

Interesting article about global property crashes, how they happen, which countries have been affected etc etc. Obviously USA, Ireland and some other European countries were hit pretty hard by property crashes but other countries like Australia are still bubbling along with sky high prices.....

Link..... article about global house price crashes



Cheers,

Tom Kline.

Very interesting link to Shiller’s List: How to Diagnose the Next Bubble.

The solution: a checklist like psychologists use to determine if someone is suffering from, say, depression. So here is Mr. Shiller’s checklist.

* Sharp increases in the price of an asset like real estate or dot-com shares
* Great public excitement about said increases
* An accompanying media frenzy
* Stories of people earning a lot of money, causing envy among people who aren’t
* Growing interest in the asset class among the general public
* “New era” theories to justify unprecedented price increases
* A decline in lending standards

If your asset class is suffering from these symptoms, consult your neighborhood economist or licensed broker, and maybe a good psychotherapist, too.

We'll remember this for next time, won't we?.

Senna

Just looked at the average house price in Vancouver, Canada and its $679,000, an increase of 11.1% from last year:eek:

TKline

Yes indeed, Canada is in a massive bubble too!