Beware slow-motion repeat of 2008 housing bubble | GulfNews.com:
"It is widely agreed that a series of collapsing housing market bubbles triggered the global financial crisis of 2008-09, along with the severe recession that followed. While the US is the best-known case, a combination of lax regulation and supervision of banks and low policy interest rates fuelled similar bubbles in the UK, Spain, Ireland, Iceland, and Dubai.
Now, five years later, signs of frothiness, if not outright bubbles, are reappearing in housing markets in Switzerland, Sweden, Norway, Finland, France, Germany, Canada, Australia, New Zealand, and, back for an encore, the UK (well, London). In emerging markets, bubbles are appearing in Hong Kong, Singapore and China, and in major urban centres in Turkey, India, Indonesia, and Brazil.
Signs that home prices are entering bubble territory in these economies include fast-rising home prices, high and rising price-to-income ratios, and high levels of mortgage debt as a share of household debt. In most advanced economies, bubbles are being inflated by very low short- and long-term interest rates."
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