The total value of residential property in developed countries rose by more than $30 trillion over the past five years to more than $70 trillion, according to The Economist. That increase is equivalent to 100% of those countries’ combined gross domestic products (GDPs). Ponder the magnitude of that statement.
To be fair, it’s difficult to grasp exactly how amazing that is without historical context. Those numbers dwarf any previous housing boom, the global stock market bubble of the late 1990s (a GDP increase of 80% over five years), and America’s stock market bubble of the late 1920s (55% of GDP). We’re looking straight into the eyes of the biggest bubble in history.
Read the rest of the story at The Motley Fool
As a new player, I might need some game guides or information to enhance myself for real estate. Anyway thanks for great real estate blog.
Left by Anonymous on March 4th, 2010 e