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.
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!!!
good for you 2:56…..all i care about right now is that its so easy to get you riled up!!!! Its fun
If you want to get into that kind of pissing match, i have 5 properties…Brooklyn, 3 in PA and one on Cape Cod. i can speak to a much more diverse set of real estate markets.
do i care if the prices go up and down over a short term…absolutely not
To assume someone who does not agree with you, is a renter, Dave, shows your utmost ignorance and self righteousness.
Given all the info you’ve given about your home and neighborhood on here thus far, I can assure you that my properties (all 3 of them) are worth more than yours. Probably by about 20 times.
You are like one of those people who email back saying “THANKS!” and nothing else.
Useless information, and I believe you’ve already mentioned how you post incessantly on Brownstoner to waste time so you aren’t spending it on gay hook up sites.
How about you chew on that.
Between tWhat and Dave, no wonder nobody comes here anymore. And Brownstoner thinks it actually helps traffic to have stupid posts. Wrong.
go to hell 2:30 in your own words “please either make a useful comment or keep it to yourself.”
Get back to your job so you can pay your rent!!!
Is counting peoples’ posts your hobby?? Kind of a loser hobby don’t you think
Chew on that…..
SHUT UP DAVE! Please. No one thinks you are funny or intelligent. Not even your sissy bf in Philadelphia.
The website is broken!!! Don’t blame others for multiple postings! Blame bstoner.
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.
Please either make a useful comment or keep it to yourself. You are like a 5 year old with ADD.
2:15…just another example of an idiot that can’t read a facetious comment for what it is….a JOKE…God you are stupid
and The What…learn how to post just once…you are annoying enough as it is without the double posting
This is for you, The What, since you apparently missed it above:
“Fort Greene saw a 170 percent INCREASE in sales volume, the largest of all the neighborhoods, with 62 homes sold in the first quarter of 2008 compared to 23 for the same period last year. Overall prices also rose from $675,870 to $760,484, a 13 percent increase.”
“You are still an idiot, the what. Take a look above. Brooklyn real estate is not only doing fine BUT STILL INCREASING!”
Yo Assfuck, sales VOLUME has fallen off a cliff. The are selling 1 house that’s overprice and the rest of the inventory is just sitting there!
Go in a Real Estate office and ask them “When was the last time you had a closing”? If they are truthful they will say “Not in a long time”.
There are 20 stories that are bad compared to this piece of bullshit! You why the “Super Rich” is OK?! Those are the ones who have ass-fucked your 401k’s, Mutual Funds and Retirement savings. Ask those people who held on to ENRON after the NASDAQ implosion. Stupid Mother Fucker!!!!
The What
Someday this war is gonna end..
Brownstoner Fix this fucking site asshole!