04 mai 2008
Le prix du foncier plonge
source: La Dépêche
Dans une période qui reste incertaine, les promoteurs s'activent pour réduire les dépenses. En ligne de mire : des terrains achetés à des prix « faramineux » que tous s'efforcent de renégocier. Beaucoup de particuliers, qui s'imaginaient assis sur un tas d'or, déchantent aujourd'hui avec des promesses de vente qui fondent comme neige au soleil. Selon les superficies (terrains libres ou avec des bâtiments à démolir), les prix ont chuté de 30 à 50 %.
Bientôt, la fin de la bulle-immobilière en France et de ce blog....
La Fed intervient sur les cartes de crédit
source: La Tribune
Sean O'Grady: Hooray! House prices are falling again
source: The Independent
The housing bubble is over. Good. Perhaps now we can stop thinking
about property as a pension scheme, drop the delusion that house prices
only ever rise, and liberate middle class dinner parties from the
tyranny of conversations about how much everyone's house has gone up in
value and what the place next door went for. Gazumping and
gazerundering can be forgotten. First-time buyers can walk into estate
agents without fear of mockery. Those overpriced but luxurious city
centre "regeneration" flats will soon be suddenly affordable to young
buyers.
Even in the US the "Ninja" loan (No Income, No Job, No Assets") has been consigned to the financial history book
The death of common sense comes with a very heavy price
source: Telegraph
There was no magic in the business, it simply advised wannabe
real-estate tycoons to buy off-plan properties, often overseas, and
then "flip" them into a rising market. It was a crude game of
pass-the-parcel which was based on an assumption that house prices
always went up. This did not pass the commonsense test, yet thousands
were sucked in by greed and self-delusion.
Is that a distant echo I hear? After the South Sea Bubble popped in
1720, Charles Mackay's classic work, Extraordinary Popular Delusions
and the Madness of Crowds, reflected on the victims' determination to
find a culprit: "Nobody seemed to imagine that the nation itself was as
culpable as the South Sea company. Nobody blamed the credulity and
avarice of the people... These things were never mentioned."
In southern Spain, ugly estates of quick-fit apartments have been
thrown up to suck in foreign buyers, especially Britons, eager to
secure a place in the sun
Betrayed by the banks
source: The Independent
THROUGH the golden years, Irish banks raked money from their Irish customers, making billions for their shareholders. Now that the banks are feeling the pinch, due to the worldwide credit crunch, they are squeezing borrowers who fell for the lure of soaring property values.
Banks told to tighten lending rules
source: Thisimoney
New taxes and draconian legal restrictions need to be imposed on the
banking industry to prevent another credit bubble, a leading research
body said
Bank of England governor Mervyn King has said we must never return to the loose lending practices seen earlier this decade.
Halifax survey shows house values dropping £500 a week
source: Telegraph
Houses are losing almost £500 of their value a week according to a leading
survey which has painted the bleakest picture yet for the property market.
Experts said the credit crisis had helped burst the decade-long bubble in the
housing market.
Canada: Opening door on market
source: Toronto.sun.com
Some feverishly argue there's no way Canada's real estate market will
crash and burn like the U.S. market, where one prominent analyst warns
that the meltdown is more fast and furious than during the Great
Depression.
Three years later and the boom is going bust -- with prices falling not only in the States, but Britain, Ireland, Spain and Australia. Even in hot China price gains are cooling. Some property analysts are now warning that some countries may face an even more wrenching adjustment than the States.
But in Edmonton and Calgary, skyrocketing prices are coming back down to earth, falling from 4% to 14%
Fillon, aux Etats-Unis, diagnostique l'impact de la crise sur l'économie française
source: Yahoo/AFP
Juste avant son départ vendredi en début de soirée, le Premier ministre a confié: "à la fin de ce voyage, je sais qu'on a un certain nombre de trimestres de crise devant nous".
"La France et l'Europe sont dans une situation intermédiaire. Nos fondamentaux sont globalement sains mais (...) il est incontestable que quand l'économie américaine ne va pas bien, l'ensemble de l'économie mondiale s'en ressent et tout particulièrement l'économie européenne", avait indiqué dans la matinée le chef du gouvernement.