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
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
Second world war
Communists confiscate assets in half of europe
Britain having to go begging to the IMF
Hyper inflation of the 70s
Chronic impact of vietnam war
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.