Comments on: Euro debts – livin’ LARGE in euro land. https://www.golemxiv.co.uk/2010/04/euro-debts-livin-large-in-euro-land/ Author of THE DEBT GENERATION Thu, 06 May 2021 15:38:33 +0000 hourly 1 https://wordpress.org/?v=6.7.1 By: Golem XIV - Thoughts https://www.golemxiv.co.uk/2010/04/euro-debts-livin-large-in-euro-land/#comment-158 Fri, 30 Apr 2010 12:26:29 +0000 http://www.golemxiv.co.uk/2010/04/euro-debts-livin-large-in-euro-land/#comment-158 Hello IanG,

I have the same doubts as you when it comes to the UK house price data. I haven't found the data to prove it one way or another but my suspicion is that if the figures are averaged over the nation, the London prices are distorting the reports.

The whole market is still very small. Small number of houses, small number of mortgages and small total lending. So a raft of top end London banker pads would easily distort the national figures.

And you can be damn sure the state agents and banks wouldn't be rushing to clarify.

]]> By: IanG https://www.golemxiv.co.uk/2010/04/euro-debts-livin-large-in-euro-land/#comment-157 Fri, 30 Apr 2010 07:54:18 +0000 http://www.golemxiv.co.uk/2010/04/euro-debts-livin-large-in-euro-land/#comment-157 I was just reading the commentary by Philippe Legrain on CiF. Someone commented about Germany and their housing co-operatives that manage as landlords. This means the Germans rent and actually buying a property is considered a bit eccentric. Anyway, my point is the banks hold the loans and 3/4 of bank loans (apparently) are for property. So the banks have a vested interest in keeping property prices high. This news about house prices rising still in the present situation defies logic and I suspect the devil is in the detail. there are very few houses sold round my area so the prices are not meaningful.

There just seems to be a co-incidence between those countries with debt problems (Spain for example) and housing bubbles. Not sure how Greece fits into this theory though!

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