Global House Price Downturn Accelerated At End Of 2008 According To The Global Property Guide

by viernullvier

Global House Price Downturn Accelerated At End Of 2008 According To The Global Property Guide

It has been a dismal year for house prices, according to the Global Property Guide’s latest survey of publicly-available house-price time-series for the year 2008. And seen from a global perspective, the downturn is still accelerating.

The collapse of the world’s housing markets may be seen from three points of view, and unfortunately, all of them reinforce the bad news.

During 2008, the downward price momentum accelerated, as equated to 2007.
Only 2 countries saw positive instinctive in 2008 (a slower downward house price motion than last year, or rapidly and without delay upward movement), while 28 countries saw their housing market momentum deteriorating, equated to the former year. The two countries with a positive instinctive were Germany and Switzerland.

During 2008, house prices fell in most countries.
During 2008 only 8 out of 32 countries saw house prices rise, after adjustment for inflation,