is the result of a study of BNP Paribas which has just appeared.
The study found an overall price overvaluation of the stone in France, Spain and USA. Spain showed the most marked signs of overvaluation. France is also affected according to the study by high prices overvalued.
United States by cons seem to know only a moderate suréavluation, concealing, however, many regional disparities
This study is based (for summary roughly) on the price / rent over the last 10 years, and emphasizes the deviation from the mean long period. There is thus a significant departure for France and Spain, and less for the U.S..
The report adds that most loans in Spain are variable rate, and rate increases thus affect both potential buyers that households having contracted a emprunt.De addition, the debt ratio households is high (about 120% of revenue), which suggests that the correction could be more violent in Spain and France.
figures for France are therefore consistent with the figures of the Institute Precepta which provides a decrease of 25% by 2010 (see my article here). That would be "just" a correction ...
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