Housing Collapse: A Global Domino Effect?
The United States’ residential housing market collapse is shaping up to be an international trendsetter, according to article in today’s Times. The mortgage meltdown that’s caused our bubble to burst is spreading to other countries that’ve seen rapid housing appreciation in the last decade or so, like Ireland, Spain, England, and Eastern European capitals. The…
The United States’ residential housing market collapse is shaping up to be an international trendsetter, according to article in today’s Times. The mortgage meltdown that’s caused our bubble to burst is spreading to other countries that’ve seen rapid housing appreciation in the last decade or so, like Ireland, Spain, England, and Eastern European capitals. The article notes that the “synchronized global slowdown, which has become increasingly stark in recent months, is hobbling economic growth worldwide, affecting not just homes but jobs as well.” Beyond Europe, prices are also going down in India and southern China. The worldwide troubles are largely being blamed on too-lax lending standards and over-valuation of properties. The situation threatens to sink vibrant economies in countries like Ireland and Spain, where residential investment has played an outsized role in bolstering growth. As new construction slows, unemployment is rising, and houses are sitting empty.
Housing Woes in U.S. Spread Around Globe [NY Times]
Photo by JohnLeGear.
Hey Dave, don’t take that! Get your crew (Boof Chumpion and that other guy), gang up on him and hit him hard with your diversity properties!
Hey Dave, don’t take that! Get your crew (Boof Chumpion and that other guy), gang up on him and hit him hard with your diversity properties!
Hey Dave, don’t take that! Get your crew (Boof Chumpion and that other guy), gang up on him and hit him hard with your diversity properties!
“And for the record, you posted a comment 3 times in a row last week then begged to have the other two removed so you didn’t look like a fool.”
Too late!
I don’t get riled up.
TEDIOUS 3:26. That must have been some dinner party. I do this to rile you up after the topic has been worn out and you just run with the bait!
Yes, because your comments here have been totally on topic, Dave.
I don’t see a ONE in which you’ve managed to stay on topic, actually. You are either judging others, talking about gay sex or talking about how great you are.
Period.
Even at dinner the other evening, a bunch of us brownstoner lovers were talking about how freakin annoying “daveinbedstuy” is.
Yep…you’re famous!!! For being IGNORANT!
add something to the topic or go away 3:12
Isn’t it the time of year that you go back to paris?
I have three…one in Brooklyn Heights, one in Southampton and one in Paris.
Retail value: 15-20 million.
How much is that cape worth up in Ptown, Dave?
Last time I was in Philly, someone was shot in the middle of the day in Center City. Your places there gotta be worth at least a buck fifty, right?
Gosh…you are SO cultured and diverse, Dave. Please teach me to be more like you!!!