EU & US House Prices Still Showing Little Sign of Recovery
Likewise, British house prices showed some improvement between 2009 and 2011 until the pace of growth slackened in early 2013. Unfortunately for Britain’s neighbour, Ireland, the catastrophic property collapse shows very little sign of recovering. The bursting of the Spanish property bubble has also proved devastating with little prospect of improvement in the near future.
Even though it has been somewhat absent from international headlines, the Netherlands is beginning to struggle with falling house prices as well – the country is sitting on 650 billion euros of mortgage loans and many properties are worth 25 percent less than they were before the onset of the financial crisis.
This chart shows the first quarter house price index in the EU and US 1993-2013