"Finland's Mortgage Society (Hypo) warned Thursday that the country's housing market was losing steam quickly, with prices having peaked in June.source : STT
The lender added that consumer confidence was set to revisit the late-2008 low this autumn.
Hypo said the drawn-out sovereign debt crisis was raising the spectre of a credit recession."
I will be interesting to see if Hypo past track records were in line with reality....
4 comments:
Actually I did record something about them in March 2008 - they were pretty right - unusual:
http://housingfinland.blogspot.com/2008/03/hypo-properties-beyond-reach-of-even.html
I noticed a few weeks ago that own houses in the helsinki region for sale were fairly high at 181 it fell back a bit but is now back at 181
However in the 'new normal' monetary policy is being sacrificed to keep Italians Greeks and others from striking.
I was until very recently worried that deflation was going to impact me in a scary manner. But already with key fed people talking about failure and need to do more to stimulate the economy those fears are fading
Lower Euro rates are possible along with more monetary easing
Stagflation is more or less certain
Houses are still likely to only fall substantially in real terms rathern than nominal price you paid terms.
We are being ruled by the bankers and their interests before others interests
Hi Andrew,
What are the arguments that led you to believe that deflation was not anymore in the agenda?
When you refer to Stagflation, you think about importing inflation and low growth. I suppose you do not imply to see wage spiraling out of control in Europe as in the 70's - which I think is truly unlikely.
otherwise another element to bring on the topic raised by the post :
The view of Vuokraturva:
non translated link:
http://www.hs.fi/talous/artikkeli/Vuokraturva+Asuntomarkkinoilla+merkkejä+kuplasta/1135269221843
Translated one:
http://translate.googleusercontent.com/translate_c?hl=en&prev=/search%3Fq%3Dvuokraturva%2Basuntomarkkinoilla%26hl%3Den%26safe%3Doff%26client%3Dsafari%26rls%3Den%26prmd%3Divns&rurl=translate.google.com&sl=fi&twu=1&u=http://www.hs.fi/talous/artikkeli/Vuokraturva%2BAsuntomarkkinoilla%2Bmerkkej%25C3%25A4%2Bkuplasta/1135269221843&usg=ALkJrhgNOE_3BDDjh8h7t0aDFxxDZP0_yw
I found this site that could be of interest for some:
http://www.asuntoja.org/
As usual do not hesitate to use google for web site translation.
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