Reply To: Credit crunch is smoothly disappearing, house market is good

Spanish Property Insight Forums Spanish Property Forums Spanish Real Estate Chatter Credit crunch is smoothly disappearing, house market is good Reply To: Credit crunch is smoothly disappearing, house market is good

#79942
Anonymous
Participant

You are wrong. It has happened before. Lets look at a few disasters of the 20th century:

First world war.

Bolshevik revolution in Russia and 100% bond default.

Weimar republic hyper inflation

Great depression

Second world war

Communists confiscate assets in half of europe

British devaluation

Britain having to go begging to the IMF

Hyper inflation of the 70s

Chronic impact of vietnam war

Asian crisis

Russian default (again).

Hey, get a bit of perspective. This is definitely a “hiccup”.

Google “savings and loans crisis” in the 1980s/1990s to read about “hundreds of US savings institutions collapsing”.

Just look at the stats for house price reductions in UK and US during last recession.

“THIS TIME ITS DIFFERENT” is the liturgy of losers. Get ready to fill yer boots over the next year or so.