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Housing markets in Europe worse off than in the U.S. | Cool Kids Rebel

Housing markets in Europe worse off than in the U.S.

Date July 30, 2007

House prices in the UK are more than 20% higher than they should be, making the country’s housing market the third most overvalued among the world’s major economies, a rating agency said today.Strong growth in prices over the past decade have seen the market run away from household incomes so that homeowners are now vulnerable to shocks such as rising interest rates and job losses, the Fitch agency said.Only France and Denmark have house prices further away from their long-term averages, and only France, Norway and Denmark have further diverged from the long-term price: household income ratio.

UK housing market ‘overvalued by 20%’ | Special_reports | Guardian Unlimited Money

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