Spanish Mortgages Decline for the 18th Straight Month as Bad Loans Surged
the weird thing is: now that the housing market of europe's southern fringe is tanking, all of a sudden germany experiences a (so far) mild form of a property boom. home prices are going up all over the place, where i live in the countryside, where my sister lives (berlin), where friends of mine live (frankfurt region), everywhere. prices for farms in east germany have doubled (!) over the past two years. it seems more faux and unsustainable than the boom in spain - at least those guys had pros like weather, coast, culture etc., we have none of that. why would we EVER have a ANY form of a housing bubble!? ireland, iceland, why would they? common sense should have told us something's terribly wrong over there.
it must be in some way protracted ripple effects of a completely fucked up global economy.