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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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.