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Doubling in Paris over a decade is not equivalent to doubling in an American state - France is more the size of one of the bigger states - CA / FL / NY. AFAIR, there are specific urban markets in the US where property prices trebled and quadrupled.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Tue Sep 29th, 2009 at 09:21:24 AM EST
[ Parent ]
Actually, property prices have more than double in France overall, and even more than this in places like Paris or the Riviera. Back in 2008, the Economist quoted an IMF study where the French real estate was overvalued by more than 20% (30% for the UK).

The bubble has just barely started to pop.

In contrast, there was no such bubble in Germany.

by Bernard (bernard) on Tue Sep 29th, 2009 at 04:28:04 PM EST
[ Parent ]
That's very much like the information I was referring to where comparing European national figures to US national figures is highly misleading ... US real estate being overvalued by 12% seems extremely low in the face of the current foreclosure crisis, but if half of that comes from 10% of the market, its 60% over-valued in the worst affected markets.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Tue Sep 29th, 2009 at 05:11:37 PM EST
[ Parent ]

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