this will be an interesting one. the credit squeeze is effecting banks, lending is going to tighten up so much. canada and japan both experiences huge decade long deflation periods in property valuations on the back of credit restrictions and low consumer confidence
alot of countries experienced a 15 year bull run on property, that has to be categorized as a bubble that is deflating and could burst dramatically.
saigon has experienced 50%+ devaluation so far this year, so u are luckier than some
u probably bought your house a long time ago, so u are still sitting on a really nice roi, but a good few analysis are stating that the uk market has still to fall more that double digits, especially if the bank of england can not control inflation and interest rates remain at their current levels (the slide in oil prices - will help central banks ).
i am guessing u are fine - it is the ones on huge morgages and negative equity that are suffering
dumaguete is a sort of special case, there are a huge amount of vacant houses purchased by ofw and there are few buyers of second hand houses. you could have a house on the market for years and then only have one potential customer that you negotiate a price with. so market valuations are difficult except in terms of land area
well anyway - when the dust settles more first time buyers will be able to move out of their flat shares and parents houses and just have the same opportunity as previous generations, without been morgaged to the hilt for up to 40 years.
i am looking forward to the next bubble, i hope that it is something new - tech, stock and property bubbles are old news. if it can't be something new, lets get back old school, a tulip or ostrich egg bubble.  |