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When the Economist warned in 2005 that residential property prices were in bubble territory in many national markets, South Africa led the list by far with an eight-year price appreciation of 244%. Now it seems that bubble has popped too.
The South African website Fin24 says that data from South African banks shows that the [...]

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New York City has held pretty well in this housing downturn to date. However, with money center banks reeling from the credit crisis, this has changed. Bloomberg reports sales in Manhattan falling 22% in the second quarter of 2008. Sales decreases generally preceed price declines as home sellers often take properties off [...]

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According to the Wall Street Journal, Denmark has slipped into recession because of falling house prices. Denmark saw a fairly head rise in house prices during the bubble (58% appreciation from 1997-2005). Since that time, house prices have gone bust.
European recession fears grew Tuesday as Denmark became the first European Union country to [...]

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Nationwide, the UK building society, announced today that house prices in the UK fell 0.9% in June. As the worry about the international credit crisis has expanded, the UK has moved centre stage in terms of concern over house prices. As a result, I have begun to track UK house prices alongside [...]

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I ran a short poll over the last week and the results are in. Readers at Credit Writedowns expect house prices in the U.S. to fall well in excess of 30%.
From where I sit, this makes a lot of sense (I voted too: for a 30-50% fall). If one looks at [...]

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In Ireland, the papers are very much focused on how to deal with the bust after the boom. In the wake of the big fat no on the Lisbon Treaty and after 15 long years of upswing, it is readily apparent to anyone that the bust is happening. The question everyone is asking [...]

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Last month I looked at the twenty cities in the Case-Shiller composite index to see how far back in time we had to travel to see equivalent prices in all of the twenty cities covered. Some markets saw slight upticks in prices in April, which is good news. Charlotte is the only market that [...]

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From the Case-Shiller PDF release today.
Steep Declines in Home Prices Continued in April 2008 According to the S&P/Case-Shiller Home Price IndicesNew York, June 24, 2008 – Data through April 2008, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show annual declines in the prices [...]

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I keep a bunch of articles on my blog’s sidebar as a reminder of what was being said about the housing bubble, when and by whom. One article I omitted is from The Economist, warning of a ‘global’ housing bubble and illustrating residential property price increases across a swathe of countries. As this [...]

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From Firstrung:
UK house prices fall 1.2% in June as house price growth reaches near zero for past twelve months – Rightmove

U.K. house prices have declined by their biggest amount so far this year as buyers shun the market, thereby deepening Britain’s property [...]