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#1
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International Real Estate price rises-where are the bubbles?
The European Wall Street Journal had an article on this June 16th The gave a bar chart for 11 countries. Contrary to popular thinking the "bubble" is not so large globally in the USA. They gave 1 yr and 3 yr changes For the 3 year change South Africa +95% Shanghai China +68% Spain +63% Austrailia +56% UK +50% France +48% Brazil +33% Canada +31% USA +29% Thailand +29% SWEDEN +27% Those figures include that last year. The last year results were South Africa +28% Shanghai China +27% Spain +17% Austrailia -3% UK +11% France +15% Brazil +7% Canada +10% USA +11% Thailand +13% SWEDEN +10% Paris has been fairly hot, the hottest arrondissement last year was the 11th which had a 20% increase last year. That made me feel good since I encouraged a friend of ours to buy there about 4 years ago, saying that it look likely it would take off. I live in the most expensive arrondissement where the prices average now around 7000 euros/sq meter, up from about 5000 just a couple of years ago. The llth is around 4000 now so it started low and inflated more. Anyway, Greenspan did mentioned that in the US, there are local bubbles but broadly and by comparison the US price increases are "modest". Earl |
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"Earl Evleth" wrote in message ... The European Wall Street Journal had an article on this June 16th SNIP Paris has been fairly hot, the hottest arrondissement last year was the 11th which had a 20% increase last year. That made me feel good since I encouraged a friend of ours to buy there about 4 years ago, saying that it look likely it would take off. SNIP Anyway, Greenspan did mentioned that in the US, there are local bubbles but broadly and by comparison the US price increases are "modest". IMO, Mr. G. is "lying with statistics". There certainly are places in the USA with very rapid price increases .... like 20+% per year. Quite a few major cities have seen rises of arounbd 100% in the past 5 years. California cities fit this number, as do Washington, DC, & suburbs, and places in Florida like Naples and the Miami-Fort Lauderdale-Palm Beach region. Many of these now-expensive homes are being bought with interest-only or variable-rate mortgages. A formula for a crash if interest rates soar. And in south Florida, condos are changing hands at ever higher prices a number of times DURING CONSTRUCTION ("flipping"). http://www.condoflip.com/ The business section of the Sun-Sentinel http://www.sun-sentinel.com/ runs frequent articles about housing price increases. I was recently in Dayton, Ohio. House prices there are roughly one-half to one-third what a similar house would cost in the Washington area. They haven't had the rampant price rises, 20% vs 94% in the past 5 years. Most places in the Rust Belt have only seen 20% rises over 5 years. http://moneycentral.msn.com/content/...ide/P85324.asp http://moneycentral.msn.com/content/...ide/P85333.asp |
#3
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In article , Robert J Carpenter
wrote: "Earl Evleth" wrote in message ... The European Wall Street Journal had an article on this June 16th SNIP Paris has been fairly hot, the hottest arrondissement last year was the 11th which had a 20% increase last year. That made me feel good since I encouraged a friend of ours to buy there about 4 years ago, saying that it look likely it would take off. SNIP Anyway, Greenspan did mentioned that in the US, there are local bubbles but broadly and by comparison the US price increases are "modest". IMO, Mr. G. is "lying with statistics". There certainly are places in the USA with very rapid price increases ... like 20+% per year. Quite a few major cities have seen rises of arounbd 100% in the past 5 years. California cities fit this number, as do Washington, DC, & suburbs, and places in Florida like Naples and the Miami-Fort Lauderdale-Palm Beach region. Many of these now-expensive homes are being bought with interest-only or variable-rate mortgages. A formula for a crash if interest rates soar. and prices drop, not likely in most markets save perhaps NYC and south Florida. jay Sat Jun 25, 2005 And in south Florida, condos are changing hands at ever higher prices a number of times DURING CONSTRUCTION ("flipping"). http://www.condoflip.com/ The business section of the Sun-Sentinel http://www.sun-sentinel.com/ runs frequent articles about housing price increases. I was recently in Dayton, Ohio. House prices there are roughly one-half to one-third what a similar house would cost in the Washington area. They haven't had the rampant price rises, 20% vs 94% in the past 5 years. Most places in the Rust Belt have only seen 20% rises over 5 years. http://moneycentral.msn.com/content/...ide/P85324.asp http://moneycentral.msn.com/content/...ide/P85333.asp |
#5
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Youre a good bubble, you are
"Earl Evleth" a écrit dans le message de news: ... The European Wall Street Journal had an article on this June 16th The gave a bar chart for 11 countries. Contrary to popular thinking the "bubble" is not so large globally in the USA. They gave 1 yr and 3 yr changes For the 3 year change South Africa +95% Shanghai China +68% Spain +63% Austrailia +56% UK +50% France +48% Brazil +33% Canada +31% USA +29% Thailand +29% SWEDEN +27% Those figures include that last year. The last year results were South Africa +28% Shanghai China +27% Spain +17% Austrailia -3% UK +11% France +15% Brazil +7% Canada +10% USA +11% Thailand +13% SWEDEN +10% Paris has been fairly hot, the hottest arrondissement last year was the 11th which had a 20% increase last year. That made me feel good since I encouraged a friend of ours to buy there about 4 years ago, saying that it look likely it would take off. I live in the most expensive arrondissement where the prices average now around 7000 euros/sq meter, up from about 5000 just a couple of years ago. The llth is around 4000 now so it started low and inflated more. Anyway, Greenspan did mentioned that in the US, there are local bubbles but broadly and by comparison the US price increases are "modest". Earl |
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