Monday, April 14, 2008

U.S. housing collapse spreads overseas - International Herald Tribune

U.S. housing collapse spreads overseas - International Herald Tribune: "The collapse of the housing bubble in the United States is mutating into a global phenomenon, with real estate prices down from the Irish countryside and the Spanish coast to Baltic seaports and even in parts of India."
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I wonder if common interest housing in other nations will have the same revenue issues that are now hitting many US CIDs. Here everything ultimately depends on the individual owners. Even though CIDs are quasi-public entities, the cost is entirely privatized. Elsewhere, maybe the state will step up to keep these things solvent.

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