property

The Guardian has a brilliant piece out today about how widespread the housing bubble's downdraft has become. We're not talking just the South east here but idyllic countryside villages like Ely just north of Cambridge. This should…

I started tracking an odd statistic that I made up in the aftermath of the last recession called the 'Mortgage to Growth Gap' (MGG). At the time, a lot of pundits I respected where saying that American consumers were spending right through…

Wikipedia has a great entry on the subprime housing bubble for anyone who wants a primer on the bubble and a subprime housing bubble timeline. Follow the link here. This a pretty comprehensive entry with some pretty heady stuff and a lot…

A leading Spansh newspaper, ABC, reported today that Spanish growth is decelerating quickly. According to the paper, year-on-year growth slowed from 3.5% to 2.7% while quarter-on-quarter, growth was only 0.3% versus 0.8% in the previous…

The blogger Mish is on to the Commercial Real Estate (CRE) downturn. His latest blog entry,WSJ Report: Less Shopping = Fewer Malls, shows that both the WSJ and the FT are reporting a fall in CRE prices.The Financial Times is reporting a…

As you know, I am looking at the UK and Spain as the epicenter for the next leg down in the housing bubble. Spain suffered massive overbuilding while the UK had a huge run-up in prices.The Blogger at UK Bubble is on to something in her…

The Commercial Real Estate (CRE) bust is coming to an office building near you. The latest story? The GM building in NY was flogged off with some other properties at the peak of the bubble for a cool $3.6 to $3.9 billion. Now, the…

I am on record for expecting a serious downturn after the Tech Bubble crashed in 2001. We muddled through for a few years, but ultimately most of the damage was done and gone by 2004. The Tech Bubble was a bubble of asset prices that had…

Update: A more thorough analysis of the Spanish economy is at my post Outlook for Spain: Recession.The leading Spanish Newspaper ABC is reporting that furniture sales are down 20% nationally for the first three months of 2008 due to the…

On Friday, the Spanish newspaper ABC reported that Spanish municipalities are being hit hard due to the tax revenue shortfalls emanating from the effects of the Spanish property market crash. The two local governments most affected have…