Graph of the week: rising house prices in Sweden

The key risks from very loose monetary policy are rising inflation and asset price bubbles. In spite of massive monetary stimulus in recent years, these risks have not materialised in the global economy as it continues its gradual recovery from the 2008 crisis. Nevertheless, there are areas of concern. One such area is the Swedish housing market, where prices…

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Stop the clocks ! - Comfortably numb ?

Stop all the clocks, cut off the telephone, Prevent the dog from barking with a juicy bone, Silence the pianos and with muffled drum Bring out the coffin, let the mourners come. Let aeroplanes circle moaning overhead Scribbling on the sky the message He Is Dead, Put crepe bows round the white necks of the public doves, Let the traffic policemen wear black cotton…

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Real estate, the next leg?

The chart above comes from the IMF stability review, January update. It shows the price evolution of US real estate. The red line is from the commercial sector; and has started to fall seriously as from 2009. Until now, it has not attracted as much attention as the subprime and other housing real estate. But it must hurt, and will have an impact in the banking sector,…

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Belgian real estate bubble?

The Economists’ databank on house prices gives a rather surprising picture. It shows that Belgium in different valuation measures has climbed the most. The Price to Median Income ratio has deviated much more than in the Netherlands, the UK or the USA. It is rather counterituitive to me. I do not have the impression that Belgian real estate is much more…

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"The fed didn't cause the housing bubble"

Alan Greenspan has written a remarkablecolumn in the Wall Street Journal, entitled : The Fed Didn’t Cause the Housing Bubble – Any new regulations should help direct savings toward productive investments. Greenspan makes the subtle difference between ‘low interest rates’ (fixed by his federal reserve) and low mortgage rates…

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Desperate houseprices (the Knokke adventures)

Een van de beste en meest directe manieren om de toestand van de immobiliënmarkt te volgen, is het aantal ‘te koop’-borden in het straatbeeld. In Knokke zouden die borden nu storend beginnen te werken, alleszins voor hethumeur van de burgemeester. Volgens de voorzitter van Toerisme Knokke zou het aantal residenties dat te koop staat met meer…

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Desperate houseprices (the sequel)

Was te koop voor 103.000 USD Eenartikel in de Wall Street Journallegt met een praktijkvoorbeeld uit wat rommelkredieten juist betekenen. Dit was geen inzending voor het economenhumorfestival van afgelopen weekend, maar zou het daar wel goed hebben gedaan: The little blue house rests on a few pieces of wood and concrete block. The exterior walls, ravaged…

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