Posted by: union03g | June 26, 2009

Global House Price Delta

http://emsnews.files.wordpress.com/2009/06/riga_latvia1.jpg

Latvia

Check out the below changes in real estate values across the globe. We know Dubai is going through a massive correction but I had no idea Switzerland could be doing so well over the last year. Foreigners must be buying up properties and keeping the country stable.  Latvia [right] gets title to the worlds worst housing price freefall and severe oversupply has left their banking system in near collapse. Also, from a German blog:

Getting a mortgage is a lot more difficult in Germany than it was in the U.S. during the recent crazy years. We always had to bring all figures and proofs of income and expenses and make a down payment of at least 20-30%. Even we, with a monthly net income of ca. €10k, were not accepted by the first bank we asked for a mortgage back in 1995. Paying interest only is unknown.

Now look at the data. This makes sense.

world real estate

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