Negative credit accelerator from the fall in France’s housing market

The French housing market transaction volume declined by 25% last year, according to Century21. The fall in the French housing market is just beginning. And given the macro problems in France and the previous run up in house prices, the housing sector will take on increasing importance in France as a credit decelerator as France struggles with the sovereign debt crisis.
The underlying issue in France as everywhere in the euro zone is that France, having given up its currency sovereignty to join...


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