Thursday, December 9, 2010

Paris Real Estate Bubble?

The city may not be able to clear the snow, but that isn't stopping Saudi princes and Russian mafiosi from driving up real estate prices. If I were you, I'd look into which banks are lending the money for these purchases and put my savings elsewhere. Hasn't anyone learned anything from the past few years? A 20% annual increase in real estate prices is not normal, people. It's not a good sign. It suggests a disturbance in the flow of capital as severe as the atmospheric disturbance that has sent chill air, ice, and snow over France this past week. Watch out! Bubbles burst. And don't listen to any economist who tells you we don't know how to identify bubbles. They're like pornography according to the US Supreme Court (the bubbles, I mean, not the economists--we have other choice words for them). If you're a decent person (i.e., not a loan officer or a real estate broker), you know it when you see it.

3 comments:

Anonymous said...

http://www.paris.notaires.fr/prix/info_prix.php
It seems the mafiosi/princes don't like rive gauche or the 16eme. And someone is bidding up prices in the north and east of Paris.

Fort Worth Mortgage said...

Thanks for sharing the article. I was really wondering and i get here and get amazed by the article. Hope that we will get more ahead.

typewritten said...

Funny that the post attracted a real estate robot.