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October 2013 International Economic Fundamentals

Ally

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News articles for October 2013.
 

Ally

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Safe as houses




THE British are obsessed with property ownership, but Germans, by and large, are happy to rent. The European Union`s biggest economy also has its lowest rate of owner-occupied housing, and the highest proportion of people living in homes rented at market prices (as opposed to state-subsidised ones). That is why rising rents, not rising house prices, were a theme in Germany`s recent elections, with even the conservative Christian Democratic Union and Christian Social Union showing sympathy for some kind of `rent brake`.





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Merkel urged to ditch plan for German rent controls



BERLIN (Reuters) - A sharp rise in rental prices in German cities poses no risk to the broader economy and introducing rent controls would only exacerbate the problem, economists said on Tuesday ahead of coalition talks between Angela Merkel and the Social Democrats.





Chancellor Merkel's conservatives and the SPD both pledged during the recent election campaign to impose a cap on rents in order to slow the rapid increases seen in metropolitan areas such as Berlin, Hamburg, Munich and Frankfurt.





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Ally

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Hong Kong's astronomical housing prices to drop




The Hong Kong housing market is headed into a `downward spiral` and home prices will fall at least 30% from their all-time peak in February by the end of 2015, Barclays said today, in one of the most bearish pronouncements yet about Hong Kong real estate. If Barclays is correct`and UBS and Bank of America Corp have issued similar warnings`the drop could return home prices to what they were in October of 2010.





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