"NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China. Rising property prices helped to prop up the world economy after the stockmarket bubble burst in 2000. What if the housing boom now turns to bust? What will be the consequences for economies around the globe?"
The Economist releases this special report on the state of the great bubble. Read this related article too: After the fall
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Although I tend to abide by the writing in the Economist, I have tended to be weary when the increase in housing prices is looked as a good thing. It is a short term benefit, that has long term negative effects. Large scale economies are still suffering the effects on housing increases - everyone looking to cash it creates a greater divide with the poor, giving a disenfranchised middle class, and worse a homeless working class. Ok back to sleep.
makes you think this article was right on about the resurrection of american cities.
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