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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Sun Jul 01, 2012 11:26 am 
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Housing Bubbles and Homeownership Returns - Marius Jurgilas and Kevin J. Lansing -> http://www.frbsf.org/publications/econo ... 12-19.html

Quote:
In the aftermath of the global financial crisis and the Great Recession, research has sought to understand the behavior of house prices. A feature of all bubbles is the emergence of seemingly plausible fundamental arguments that attempt to justify the dramatic run-up in prices. Comparing the U.S. housing boom of the mid-2000s with ongoing Norwegian housing market trends again poses the question of whether a bubble can be distinguished from a rational response to fundamentals. Survey evidence on expectations about house prices can be useful for diagnosing a bubble.
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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Sun Jul 01, 2012 1:59 pm 
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If you don't understand Norwegian (I don't) and don't want to sit through graphs, then scroll to 16 minutes into the video, I'm sure you'll get the idea from there on.

Bolig is house

Boligboble is house bubble


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Mon Sep 24, 2012 10:34 am 
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European Sovereign Debt Crisis: Up Next, a German Real Estate Bubble? -> http://blogs.cfainstitute.org/investor/ ... te-bubble/

Quote:
As the European sovereign debt crisis drags on, I have begun to focus my attention on Germany. Recently, I came across a table of German real estate price changes. Consider the quarterly price changes of the following seven-city index of real estate prices:

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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Mon Sep 24, 2012 12:25 pm 
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Going back to primary sources.

German house price quarterly index:

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German house price quarter on quarter percentage change:

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Source: https://www.destatis.de/EN/FactsFigures ... pr110.html


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Tue Oct 30, 2012 8:27 pm 
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Norwegian property price bubble fundamentals could last for decade - -> http://www.investmenteurope.net/investm ... for-decade

Quote:
Figures published by the Norwegian Home Builders' Association (Boligprodusentene) suggest the country's well known residential property price bubble could continue for another decade because of falling supply even as prices continue to rise.

This particular asset price bubble is well known across the country, and poses a test for the country's central bank (Norgest Bank), which is juggling the contrasting targets of keeping a lid on asset rice bubbles as part of its role to keep inflation in check and promote financial stability, while not undermining output of products and services, where in particular exporters are struggling with the effects of a strong local currency, the NOK.

The Builders' Association said in its latest quarterly report that while the number of residential property sales through the first nine months of 2012 were up 5.9% against the same period last year, the number of housing starts fell by 4.9% over the same period.

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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Tue Oct 30, 2012 8:41 pm 
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BoyRacer wrote:
Image



The irony about that picture is how true it is and how the country's elite is doing their damndest to continue the upward momentum.

It's almost as if they have a vested interest. :x


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Fri Nov 30, 2012 8:12 am 
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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Mon Feb 11, 2013 7:30 am 
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Husbanken blåser de norske boligprisene til himmels -> http://theboombust.blogspot.no/2013/02/ ... isene.html

Quote:
I think it's so easy to explain why housing prices are rising. Firstly: People have traditionally in Norway an almost insatiable desire to own their own home. Second: People get loans to buy these houses.

One of those who are to blame for the now painfully high house prices, the Housing Bank. This taxpayer-funded bank throws money at people as firefighters spray water on burning buildings. They drown people in debt!


Google translate


"People have traditionally in Norway an almost insatiable desire to own their own home." - Now where did we hear that before...


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Mon Feb 11, 2013 10:28 am 
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slasher wrote:
http://www.theatlantic.com/business/archive/2012/06/norways-housing-bubble-makes-ours-look-almost-cute-by-comparison/259020/

Quote:
Norway's Housing Bubble Makes Ours Look Almost Cute By Comparison


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Norway aside for a second just wow look at the US correction!!


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Mon Feb 11, 2013 1:02 pm 
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Blindjustice BATONEFFECT wrote:
slasher wrote:
http://www.theatlantic.com/business/archive/2012/06/norways-housing-bubble-makes-ours-look-almost-cute-by-comparison/259020/

Quote:
Norway's Housing Bubble Makes Ours Look Almost Cute By Comparison


Image


Norway aside for a second just wow look at the US correction!!


When it comes to economics Norway is Different and I am being serious. It has a population slightly more than Ireland but it has an incredible amount of natural resources, loads of oil and gas and other minerals, loads of cheap hydro electricity that it exports, huge fishing grounds, The government has over €1 million euro saved for every inhabitant.


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Thu Oct 31, 2013 11:46 pm 
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Bundesbank warns over German house price boom - -> http://www.theguardian.com/business/201 ... price-boom

Quote:
It still enjoys a reputation as a renter's paradise, but on Monday the Bundesbank issued a warning about the rise in house prices in Germany. In its monthly report published on Monday, the central bank said that properties in German cities "may currently be overvalued by between 5% and 10%".

The property boom has mainly affected larger cities such as Berlin, Hamburg and Munich, where apartment prices were up to 20% higher than could be accounted for by economic factors alone, the report says. In Berlin prices per square metre have risen by more than 30% between 2007 and 2012. Houses in rural areas, meanwhile, have been largely untouched by the trend for now.

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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Wed Nov 27, 2013 8:53 pm 
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Norway - An Answer To Christian Vammervold Dreyer - -> http://norwegianbubble.blogspot.co.uk/2 ... reyer.html

Quote:
Christian V. Dreyer, the leader of an association for Norwegian real estate brokers (EFF), writes in his latest blog post about the falling house prices. He himself has worked as a real estate broker/agent in the past. Now, is there any sense in arguing with a real estate broker about a housing bubble? After all, Dreyer and EFF are not hiding their agenda, which is to work for the benefit of real estate brokers. Real estate brokers usually lose jobs if house prices drop in any significant way. House prices can drop in a significant way if the majority of people expect them to do so. Dreyer and EFF thus have all the reason to tell people that house prices will not drop in any significant way and so it's safe to buy.

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"Soft landing" time in Norway...


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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Sun Dec 08, 2013 1:02 am 
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Biggest Bank in Norway Dismisses Hard Landing in Housing Bet - -> http://www.bloomberg.com/news/2013-12-0 ... e-bet.html

Quote:
NB ASA (DNB) says predictions of a hard landing in Norway’s property market are unfounded as the nation’s biggest bank sees scope for house prices to rise next year.

“We don’t expect any sharp decrease in house prices but actually believe there might be a very limited price increase and potential upside for 2014 and stable prices in the year or two after that,” Chief Executive Officer Rune Bjerke said in a Nov. 29 interview at DNB’s headquarters in Oslo.

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Back to Housing Bubbles - Nouriel Roubini -> http://www.project-syndicate.org/commen ... -the-world

Quote:
NEW YORK – It is widely agreed that a series of collapsing housing-market bubbles triggered the global financial crisis of 2008-2009, along with the severe recession that followed. While the United States is the best-known case, a combination of lax regulation and supervision of banks and low policy interest rates fueled similar bubbles in the United Kingdom, Spain, Ireland, Iceland, and Dubai.

Now, five years later, signs of frothiness, if not outright bubbles, are reappearing in housing markets in Switzerland, Sweden, Norway, Finland, France, Germany, Canada, Australia, New Zealand, and, back for an encore, the UK (well, London). In emerging markets, bubbles are appearing in Hong Kong, Singapore, China, and Israel, and in major urban centers in Turkey, India, Indonesia, and Brazil.

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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Wed Dec 11, 2013 7:03 am 
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Norway Poised to Relax Rules to Fight House Price Deflation - -> http://www.businessweek.com/news/2013-1 ... eflation-1

Quote:
Norway is moving closer to easing mortgage lending standards as the nation’s deflating property market prompts concern among lawmakers that existing regulations are too tight.

Real estate prices, which have doubled over the past decade and touched a record high this year, are now dropping faster than the central bank had predicted. The Conservative-led government, which won power in September, says it’s now looking into raising the amount banks can lend to borrowers to 90 percent of a property’s value, from 85 percent previously, in an effort to support first-time buyers.

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 Post subject: Re: The Post-2009 Northern & Western European Housing Bubble
PostPosted: Wed Dec 11, 2013 10:00 am 
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It's amazing to watch the same act play out, just with a different translation.
Every country believes 'this time it's different'.
Even with close to €1 trillion in it's wealth fund, overpriced property is overpriced property.


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