4 ms·

> Greece did not suffer from an asset bubble... Greece's House price index (2007=100) shows a cumulative rise of 44.3 from 2001 thru 2007, and a cumulative dro

> Greece did not suffer from an asset bubble... Greece's House price index (2007=100) shows a cumulative rise of 44.3 from 2001 thru 2007, and a cumulative drop of 49 from 2008 thru 2014 - http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.A.GR.N.TD.00.4.R1 http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.A.G... As of February 2014, "Greece [had] suffered the second biggest property crash in the EU since the debt crisis began." - http://www.theguardian.com/world/2014/feb/28/home-ownership-greece-property-market http://www.theguardian.com/world/2014/feb/28/home-ownership-... From Q3'08 to Q2'14, Greek house prices declined by 41.6% in real terms - http://www.bankofgreece.gr/BogDocumentEn/PRODEXPO_Oct_2014.pdf http://www.bankofgreece.gr/BogDocumentEn/PRODEXPO_Oct_2014.p...

mohawk 11y ago
Thanks for the numbers, you are right. The charts are remarkably similar for Greece http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.GR.N.TF.00.3.00 http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.G... Spain http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.ES.N.TD.00.0.00 http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.E... Portugal http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.PT.N.TD.00.5.00 http://sdw.ecb.europa.eu/quickview.do?SERIES_KEY=129.RPP.Q.P... But i would still claim that in the case of Greece, the (masked) public debt crisis preceded the asset bubble whereas in Spain, Portugal and Ireland the public debt crisis followed the asset bubble.