America has suffered through a housing crisis for the past several
years, with the average price falling 30 percent, and much more than
that in some areas. So it may come as a surprise to many Americans that
much of the world still appears to be in the throes of its own housing
bubble. The chart below, from the Global Housing Monitor produced by the International Monetary Fund's Prakash Loungani, offers some perspective.
Housing prices have been falling in about half of the countries, but they're rising on the other half.
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| photo by jekemp |
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| photo by YST (aka kryptos5) |
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