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The Global Housing Boom

Posted by: Chris Steins
Thanks to: Regional Community News
23 June 2005 - 1:00pm

Never before have housing prices risen so fast, for so long, in so many countries, according to new research by the Economist.

"The global boom in house prices has been driven by two common factors: historically low interest rates have encouraged home buyers to borrow more money; and households have lost faith in equities after stockmarkets plunged, making property look attractive. Will prices now fall, or simply flatten off? And in either case, what will be the consequences for economies around the globe? The likely answers to all these questions are not comforting."

Full Story: In come the waves
Source: The Economist, June 16, 2005
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The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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