Re: Re: Boom Bust Property Markets

#115179

peterhun
Participant

“Iceland too cold for me to consider”

The capital controls (illegal under EEA law, but..) mean you cannot take money out of the country and the ISK is basically worthless so all local ‘money’ is invested locally in property. The population has fallen, so the demand is not for housing. Its another crazy bubble and ISK only so.. meaningless as it will crash when the capital controls are removed and real (floating) exchange rates re-introduced.